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Standard Chartered Private Equity Invests US$75 Million in Topaz Energy and Marine (MENA)
Emerging markets investor Standard Chartered Private Equity has acquired a 9.8 percent stake in United Arab Emirates-based offshore support vessel company Topaz Energy and Marine for US$75 million. Topaz intends to use the funds to support its long-term fleet expansion in its core operational regions and for further geographical diversification. The transaction is subject to bank consents and customary conditions,… Read More
Hony Capital Buys a 20 Percent Stake in Chery Heavy Industry (Asia)
China-focused private equity firm Hony Capital has acquired a 20 percent stake in China-based farm machinery manufacturer Chery Heavy Industry for RMB696 million (approximately US$113 million). The investment is part of a US$340 million joint acquisition with Hony's portfolio company Zoomlion Heavy Industry Science and Technology, a China-based construction equipment maker. Together Hony and Zoomlion bought a combined 80 percent… Read More
Warburg Pincus and Shanghai Baosteel Gases Buy Gas Assets from Henan Jinkai Chemical Investment Holding Group (Asia)
Global private equity firm Warburg Pincus and China-based industrial gas producer Shanghai Baosteel Gases have reached an agreement to acquire the industrial gas assets of China-based chemical producer Henan Jinkai Chemical Investment Holding Group for RMB3 billion (approximately US$488 million). This transaction comes under the umbrella of a newly formed strategic partnership between Warburg Pincus and Baosteel Gases to jointly… Read More
Brookfield Asset Management Acquires a 26.5 Percent Stake in VLI from Vale (Latin America)
Alternative asset investor Brookfield Asset Management has completed the acquisition of a 26.5 percent stake in Brazil-based iron ore mining company Vale’s cargo transportation division, VLI, from Vale. The transaction, which was announced in December 2013, is valued at BRL2 billion (approximately US$971 million). Vale also sold a 20 percent stake in VLI to Japan-based general trading company Mitsui &… Read More
CITIC Capital Partners Acquires King Koil Shanghai Sleep System (Asia)
CITIC Capital Partners, the private equity arm of alternative investment management and advisory firm CITIC Capital Holdings, has purchased a controlling stake in China-based mattress retailer King Koil Shanghai Sleep System. The transaction was structured through CITIC Capital China Partners II. The company intends to use the investment to strengthen its place in the hotel contract market and grow its… Read More
Lailaihui Raises a Series B Financing Round from CDH Venture and Fosun Venture Capital Investment (Asia)
CDH Venture, a venture capital team under the umbrella of alternative asset fund manager CDH Investments, and Fosun Venture Capital Investment, Fosun Group’s venture capital arm, have invested RMB100 million (approximately US$16 million) in a Series B financing round for China-based online travel service provider Lailaihui. CDH previously participated in a Series A financing round for the company in February… Read More
Samara Capital Acquires a 45 Percent Stake in Iron Mountain India (Asia)
Private equity firm Samara Capital has acquired a 45 percent stake in Iron Mountain India, a provider of storage and information management services, from its New York Stock Exchange-listed parent Iron Mountain. Iron Mountain’s India business started in 2006 through a joint operation with India-based information storage companies Mody Access Info and Indexinfo Services. Iron Mountain India operates 16 facilities… Read More
TPG to Buy a Majority Stake in Union Bank of Colombo for US$117 Million (Asia)
Global private investment firm TPG has entered into an agreement to invest approximately US$117 million in Sri Lanka-based commercial bank Union Bank of Colombo (UBC) through a combination of primary and secondary shares. TPG will acquire up to 70 percent of UBC’s issued share capital, as well as warrants that would increase TPG’s stake to 75 percent if exercised within… Read More
IDG Ventures India Invests in Online Apparel Retailer eShakti (Asia)
Venture capital firm IDG Ventures India has invested around INR60 million (approximately US$1 million) in India-based online apparel retailer eShakti as part of a multi-stage transaction. The latest tranche, which took place over the last few months, brought IDG Ventures India’s total investment in the company to around US$5 million. The firm previously invested around US$3 million in eShakti in… Read More
LAFISE CASEIF III Holds a US$28.75 Million First Close (Latin America)
Private equity fund manager Lafise Investment Management, a branch of financial conglomerate LAFISE Group, has reached a first close on its latest fund, CASEIF III, with US$28.75 million in capital commitments. CASEIF III, which has a target of US$50 million, aims to invest between US$1 million and US$5 million in small- and medium-sized enterprises in Central America, the Dominican Republic… Read More
MBK Partners Agrees to Sell Techpack Solutions to Dongwon Systems (Asia)
North Asia-focused private equity firm MBK Partners has agreed to sell a 100 percent stake in South Korea-listed beverage packaging product manufacturer Techpack Solutions to South Korea-based aluminum and food can manufacturer Dongwon Systems for KRW250 billion (approximately US$243 million). Including debt, the deal is valued at about KRW450 billion (approximately US$437 million). MBK originally acquired the company in December… Read More
The Carlyle Group Invests in Ganji.com (Asia)
Global alternative asset manager The Carlyle Group has acquired a minority stake in China-based operator of online and mobile-based classifieds Ganji.com in a Series E financing round. The transaction was structured through Carlyle Asia Partners IV. Hedge fund Tiger Global also participated in the round, which was reported to be worth more than US$200 million. Ganji.com intends to use the… Read More