Private equity group EQT has sold its 30 percent stake in China-based aluminum die casting manufacturer Modern Metal and Precision Holdings to China-focused investment firm JD Capital. Modern Metal's founders have also sold a 49 percent stake in the company to JD Capital. EQT originally invested in the company in… Read More
Global private equity firm Providence Equity Partners has sold a 3.47 percent stake in Bombay Stock Exchange and the National Stock Exchange-listed telecommunication service provider Idea Cellular for INR1.38 billion (approximately US$204 million) via an open market sale. Providence, which originally invested in Idea Cellular in 2006, holds a remaining… Read More
Global private equity firm Warburg Pincus has agreed to sell a 10.4 percent stake in NASDAQ-listed blood plasma-based biopharmaceutical company China Biologic Products in an underwritten public offering. Warburg Pincus, which originally invested in Biologic through Warburg Pincus Private Equity X, will sell 2.78 million shares. The offering is expected… Read More
Southeast Asia-focused venture capital firm Kejora Ventures has agreed to invest in a Series A financing round for Indonesia-based online peer-to-peer lending marketplace Investree. The company, which connects lenders with borrowers, plans to use the capital hire new talent — from marketing personnel to legal experts; as well as establish sales… Read More
China-focused private equity firm Lunar Capital has agreed to buy a 10.4 percent stake in Honworld Group, a cooking wine manufacturer listed on the Hong Kong Stock Exchange. Lunar Capital will subscribe to 60 million shares in the company at HKD6.00 (approximately US$0.77) per share, totaling gross proceeds for the… Read More
Southeast Asia-focused impact fund advisory firm Aavishkaar has invested US$2 million in Bangladesh-based payment systems company CloudWell. The transaction was structured through Aavishkaar Frontier Fund. CloudWell, which operates under the brand name PayWell, will use the new capital to expand geographically within Bangladesh. Read More
Emerging markets-focused venture capital firm Digital Media Partners has led a US$3 million Series A financing round for Jirnexu, a Malaysia-based financial technology startup focusing on customer acquisition and management solutions. Other participants in the round included Indonesia-based investment company Celebes Capital; Southeast Asia-focused private equity firm Tuas Capital Partners;… Read More
China-focused private equity firm Vision Knight Capital has led a CNY1 billion (approximately US$153 million) Series C financing round for Weidai, a China-based peer-to-peer lending platform that specializes in providing auto loans. Financial services company China Securities and Shenzhen-listed home improvement company Dong Yi Ri Sheng Home Decoration Group also… Read More
Private equity firm CVC Capital Partners and special situations investor Argyle Street Management have sold shares worth IDR3.02 trillion (approximately US$223 million) in Indonesia-listed retailer Matahari Department Store. CVC’s latest share sale is the firm’s fourth sell-down in Matahari since Matahari’s initial public offering in March 2013. CVC originally acquired a… Read More
India-focused private equity firms Peepul Capital and Ascent Capital have invested INR2 billion (approximately US$30 million) in India-based packaged foods company Maiyas Beverages and Foods. Peepul contributed about 80 percent of the total transaction amount, while Ascent contributed the remainder. The company will reportedly use the new capital to build… Read More
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