Asia-focused buyout fund manager Affinity Equity Partners has invested US$123 million in a dairy farming joint venture with Chinese state-owned enterprise (SOE) Beijing Capital Agribusiness Group, also known as Sunlon. Sunlon will spin-out its dairy farming operation into the joint venture, taking a 60 percent stake to Affinity’s 40… Read More
Global microfinance private equity investor Bamboo Finance has exited from its investment in TenGer Financial Group, the holding company of Mongolia-based banking institution XacBank, in a sale to a group of investors led by Japan-based leasing company ORIX Corporation. XacBank operates in all of Mongolia’s 21 provinces and the… Read More
China-focused private equity firm Hony Capital and home appliance retailer Suning Commerce, one of Hony’s portfolio companies, will purchase a controlling interest in China-based online TV provider PPTV for US$420 million, valuing PPTV at approximately US$568 million. Suning will pay US$250 million to buy a 44 percent stake in… Read More
Global investment firm Kohlberg Kravis Roberts & Co. (KKR) will invest about US$90 million in India-based hospital operator Apollo Hospitals Enterprise through a subscription to convertible debentures issued by Apollo Hospitals’ parent PCR Investments. Per the agreement, KKR will have an option to convert these debentures into equity shares… Read More
International alternative asset fund manager CDH Investments has participated in a US$3 million funding round in China-based financial management application Wacai.com. The company, which recently acquired retail finance consulting firm Trust Analytics, has developed two mobile apps reportedly used by more than 40 million people to manage daily spending. Read More
Tata Capital, the private equity arm of the Indian conglomerate Tata Group, has invested in three separate India-based companies: television services operator Tata Sky, financial products and services distributor IFMR Rural Channels and Services (IRCS) and personalized cancer care and rational drug developer Mitra Biotech. In the largest of… Read More
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
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