India-based online recruitment company myNoticePeriod.com has raised more than INR20 million (approximately US$330,000) in a seed stage financing round led by venture capital firm IDG Ventures India. Individual angel investors also participated in the round. The company intends to use the capital to strengthen its team, increase revenues and invest… Read More
Southeast Asia-focused private equity firm Navis Capital Partners has acquired an equity stake in Singapore-based manufacturer of corrosion-resistant clad pipes Cladtek Holdings. The company, which provides anti-corrosion technology used in oil and gas pipelines, intends to expand into both new and existing markets. Financial details of the transaction were not… Read More
Global investment firm KKR has sold its remaining stake in China-based milk producer China Modern Dairy Holdings for approximately US$80 million. KKR and private equity firm CDH Investments previously made partial exits when Modern Dairy went public in Hong Kong in 2010, raising HKD3.5 billion (approximately US$451 million). In 2013,… Read More
Singaporean sovereign wealth fund Temasek has received regulatory approval from the Competition Commission of India to acquire a ten percent stake in India-based pharmaceutical formulation development company Intas Pharmaceuticals from India-focused investment firm ChrysCapital. ChrysCapital, which holds a 16.8 percent stake in the company, had previously invested INR3.53 billion (approximately… Read More
China-focused private equity firm Hony Capital has agreed to acquire a 12.4 percent stake in Hong Kong-listed hotel company Shanghai Jin Jiang International Hotels Development for RMB15 billion (approximately US$243 million). Hony will buy 100 million shares in Shanghai Jin Jiang at RMB15 (approximately US$2.43) apiece. The price represents… Read More
China-based financial asset manager China Huarong Asset Management has signed an agreement with a consortium of investors, including private equity firm Warburg Pincus, to issue new shares amounting to a total of RMB14.5 billion (approximately US$2.4 billion), representing a 21 percent stake. China Huarong intends to make a public offering… Read More
ACO Investment Group, an infrastructure-focused alternative investment manager, has signed an agreement with the Burma Ministry for Electric Power to develop two 150MW solar energy plants in Myanmar. The project is valued at US$480 million. The plants are expected to account for ten percent to 12 percent of Myanmar’s power… Read More
India-based Snowman Logistics, a cold chain service provider backed by venture capital firm Norwest Venture Partners, is aiming to raise up to INR1.97 billion (approximately US$32.5 million) after launching its initial public offering last week. Anchor investors, including private equity firm Faering Capital and several hedge funds, subscribed to 9.45… Read More
The twelfth issue of the EMPEA Legal and Regulatory Bulletin echoes the dynamic, fluid nature of the emerging markets regulatory landscape. In this issue we explore how country-specific regulatory developments are creating challenges and opportunities for private equity investors and practitioners. The issue specifically looks at recent developments in Brazil,… Read More
Global investment firm KKR & Co. has signed an agreement to acquire an 18 percent stake in Shenzhen-listed chicken meat producer Fujian Sunner Development for approximately US$400 million. Sunner operates as a breeder, processor and supplier of chicken products, providing fresh and frozen chicken to China's fast food and food manufacturing… Read More
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