India-focused private equity fund manager IL&FS Investment Managers Limited (IIML) is selling its stake in India-based laundry business Jyothy Fabricare Services. Jyothy’s board has approved the acquisition of 3.3 million Compulsorily Convertible Cumulative Participatory Preference Shares (CCCPPS) at INR10 (approximately US$0.16) each and 50,000 equity shares from the private… Read More
Pan-emerging markets private equity firm Actis has announced a US$48 million investment for a significant stake in India-based Symbiotec Pharmalab, producer of steroid-hormone active pharmaceutical ingredients. Symbiotec, which produces active ingredients for medicine manufacturers, intends to use the new financing for company growth. Read More
South Korea-based train manufacturer Hyundai Rotem, which is backed by Asia Pacific private equity investor Morgan Stanley Private Equity Asia (MSPEA), has raised KRW622.4 billion (approximately US$584.4 million) in an initial public offering on the Korea Exchange. The offering of 27.1 million shares, including six million shares owned by… Read More
Global private investment firm TPG has agreed to buy a 12.2 percent stake in China-based satellite television operator Phoenix Satellite Television Holdings from United States-based media corporation 21st Century Fox for HKD1.7 billion (approximately US$214 million). TPG will buy 607 million shares in Phoenix at HKD2.73 per share, representing… Read More
ADM Capital, an investment firm focused primarily on recovery, special situations and event-driven opportunities in emerging markets, has partnered with distressed debt and special situations investment manager Altus Capital Partners to invest in Kormasinc, a special purpose company set up to acquire Philippines-based agri-feeds producer Vitarich’s long term secured… Read More
Singapore-listed Chinese water treatment company SIIC Environment will raise SGD260.2 million (approximately US$208.9 million) by selling new shares to Asia-focused private equity firm RRJ Capital, investment services institution CCB International (CCBI) and China sovereign wealth fund China Investment Corporation (CIC). SIIC will sell 3.1 billion ordinary shares at SGD0.09… Read More
IDFC Alternatives, the alternative asset management vertical at infrastructure financing company IDFC, has picked up a stake in India-based Medi Assist Group, provider of third party administrator (TPA) services for health insurance-related claims. IDFC Alternatives committed INR1.3 billion (approximately US$20.5 million) to the deal, part of which has already… Read More
North Asia-focused private equity firm MBK Partners has reached a third close on its latest buyout fund MBK Partners III at the hard cap of US$2.7 billion in capital commitments. The fund, which reached a first close of US$1.25 billion in capital commitments in November 2012, had an initial… Read More
Affiliates of China-focused private equity firm Hony Capital are selling 500 million shares in Hong Kong-listed manufacturer of vitamins and generic drugs CSPC Pharmaceutical Group for HKD4.05 (approximately US$0.52) per share. Hony is seeking a total of HKD2 billion (approximately US$261.1 million) from the sale of a 13 percent… Read More
Venture capital firms IDG Ventures India and Inventus Capital Partners have participated in a US$2 million Series A funding round in India-based Unbxd, a recommendation platform for e-commerce companies. Unbxd intends to use the capital infusion to strengthen the company’s presence in India, Singapore and North America, in addition… Read More
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