China-focused private equity firm CDH Investments has agreed to sell a 10.62 percent stake in China-based pork producer WH Group for approximately HKD9.3 billion (approximately US$1.2 billion) on the Hong Kong Stock Exchange. CDH continues to hold a 19.77 percent stake in the company. The firm sold 880 million shares… Read More
An Introduction to Private Equity in India India’s reputation as an assault on the senses is well deserved. Visit any of the country’s 29 states, nearly 8,000 cities and towns, or over 600,000 villages, and one is typically confronted by an onslaught of vibrant colors, musical sounds, rich smells,… Read More
Southeast Asia-focused private equity firm Navis Capital Partners has acquired a 20 percent stake in Malaysia-backed make-up producer and distributor Alliance Cosmetics Group for MYR61.8 million (approximately US$15.4 million) from Malaysian government-backed private equity firm Ekuinas. In addition to its in-house trademark brand SilkyGirl, Alliance Cosmetics Group distributes global brands… Read More
India-focused private equity firm ChrysCapital has participated in an INR3.64 billion (approximately US$54 million) pre-IPO investment in India-based lender RBL Bank. ChrysCapital invested INR190 million (approximately US$2.8 million). Other investors in the round included Azim Premji’s private investment arm PremjiInvest and Government Pension Fund Global, the Norwegian sovereign wealth fund. Read More
Global growth private equity firm TA Associates has invested in a US$140 million round for a reported 30 percent to 35 percent stake in India-based women’s apparel platform TCNS Clothing Company, allowing existing shareholder Matrix Partners to sell a 20 percent stake in the company. With TA Associates’ support, TCNS… Read More
In this Bulletin, our contributors focus on: Debt investment in India and whether Mauritius is now and will in future be a preferred investment route: Reviewing a protocol amending the agreement between India and Mauritius in relation to double taxation and challenges presented by India’s General Anti-Avoidance Rules, the treatment… Read More
By Ganesh Rao and Pallabi Ghosal, AZB & Partners On May 10, 2016, after years of protracted negotiations, India and Mauritius signed a protocol (“Protocol”) amending the agreement for avoidance of double taxation between India and Mauritius (“Indo-Mauritius DTAA”). This Protocol has been hailed by the Indian government… Read More
China-based investment holding company Tencent and Taiwan-based electronics manufacturer Foxconn have led a Series D round of more than US$175 million for India-based instant messaging application Hike. Other investors in the round included global investment firm Tiger Global Management, India-based conglomerate Bharti Enterprises and Japan-based telecommunications company Softbank. Hike was… Read More
China-based Meet You, a female social network and mobile application, has raised CNY1 billion (approximately US$151 million) in new financing from existing investors, including cross-border private equity firm Cathay Capital Private Equity and venture capital firms Matrix Partners and China Renaissance K2 Ventures. Meet You, which is operated by Xiamen… Read More
By Cindy Valentine and Ravi Chopra, King & Wood Mallesons Although permanent capital structures have been used in Europe and the US for many years in various forms, emerging markets have trailed developed markets when it comes to alternative structures. While managers in emerging markets have been talking about,… Read More
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