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… Read More
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… Read More
Early stage venture capital firm Reservoir Investment Managers has reached a second and final close on its maiden fund, Exfinity Technology Fund – Series I, with INR1.25 billion (approximately US$20 million) in capital commitments. Investors in the India-focused fund included institutional investors, family offices and technology executives. Exfinity intends to… Read More
Private equity group EQT has sold Taiwan-based cable TV channel operator Gala TV Corporation to Yung-Tsai Investment, an investment vehicle jointly owned by businessmen Wang Yung-Tsai, Wang Weng-Tsao and Wong Wen-Yuan. The transaction was structured through EQT Greater China II. EQT originally acquired Gala TV, which operates four cable TV… Read More
Private equity and investment advisory firm CVC Capital Partners has sold an 11.5 percent stake in Indonesia-based retailer Matahari Department Store for a reported IDR4.69 trillion (approximately US$397 million). The transaction entailed CVC-owned Asia Color Company selling 335 million shares in Matahari through a private placement to investors in Asia,… Read More
Southeast Asia-focused clean energy investor Armstrong Asset Management has committed to provide US$29 million to fund a pipeline of bilateral solar power projects in the Philippines being developed by Singapore-based solar power plant developer nv vogt Singapore. The first project, a 6.25 MW solar power plant in the southern region… Read More
China-based pork producer WH Group has raised US$2.1 billion in an initial public offering on the Hong Kong Stock Exchange. Backed by China-focused private equity firm CDH Investments, Singaporean sovereign wealth fund Temasek Holdings and global banking, securities and investment management group Goldman Sachs, WH Group offered 2.57 billion… Read More
IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, is exiting its five-year old investment in India-based natural gas distributor Maharashtra Natural Gas (MNGL) to India-based compressed natural gas supplier Indraprastha Gas (IGL). IGL will acquire up to a 50 percent stake in MNGL for INR1.9 billion… Read More
China-focused venture capital firm IDG Capital Partners has led a US$100 million Series B financing round for China-based online grocer Womai.com, with participation from an existing backer, Asia-focused private equity firm SAIF Partners. With operations in Beijing and Shanghai, Womai specializes in selling imported products directly to Chinese consumers… Read More
Global investment and advisory firm The Blackstone Group has announced that Black Rhino, a South Africa- and Senegal-based infrastructure development company backed by Blackstone Energy Partners and affiliated funds, will partner with West African industrial conglomerate Dangote Industries to jointly invest up to US$5 billion over the next five… Read More
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