India-focused private equity firm Zephyr Peacock India and Singapore-based private equity firm Credence Partners have agreed to invest INR904 million (approximately US$17 million) in Indian logistics firm 20Cube Logistics. 20Cube offers international transportation and contract logistics services in India, Australia, Sri Lanka, Bangladesh, Malaysia, Singapore, China, Uganda and the… Read More
Asia-focused special situations investor Clearwater Capital Partners has sold its entire 27.16 percent stake in Indian hotel management chain Sayaji Hotels to the Dhanani family, the chain’s promoters. Clearwater disposed of its 4.75 million equity shares at INR130 per share (approximately US$2.44), valuing the transaction at approximately US$11.6 million. Read More
Baring Private Equity Asia (BPEA), an Asia-focused private equity fund manager, has fully divested its holdings in Airtac International Group, a China-based manufacturer of pneumatic components. BPEA, which first invested in Airtac in 2006 through its fourth private equity fund, sold its entire shareholding on the Taiwan Stock Exchange… Read More
Global private equity firm Warburg Pincus has begun exiting its holding in Indian electrical equipment company Havells India. Warburg, which held a 14 percent equity stake in Havells, sold 7 million shares (5.6 percent of Havells’s total equity) on the Bombay Stock Exchange for INR4.55 billion (approximately US$85.5 million). Read More
Global investment and advisory firm The Blackstone Group has announced the acquisition of a majority stake in two seaplane operators in the Maldives, Maldivian Air Taxi and Trans Maldivian Airways, through one of its private equity funds. The two airlines operate a combined total of 44 seaplanes catering to… Read More
Asia-focused private equity firm RRJ Capital has purchased a 75 percent stake in Hong Kong’s SKC Group, the owner of children’s wear retailer Kingkow. Kingkow operates stores in Hong Kong, mainland China, Macau, Taiwan, Singapore and Thailand. Financial details of the transaction were not disclosed. RRJ has reportedly raised… Read More
Singapore-based private equity firm Credence Partners has held a final close on its second Southeast Asia-focused private equity fund, Credence Fund II, with SGD200 million (approximately US$161.6 million) in commitments. The fund will invest in growth stage companies in the manufacturing, information communication technologies, services, logistics and consumer sectors. Read More
Global venture and growth capital investor ePlanet Capital has sold its stake in Indian chemical manufacturer Sree Ramicides Chemicals to Japanese agrochemical company SDS Biotech for INR1 billion (approximately US$18.5 million). ePlanet acquired its stake in 2008 for US$4.5 million, earning a cash-on-cash return of over 4x from the… Read More
India-focused private equity firm Tata Capital has acquired a 19 percent stake in Indian pharmaceutical company Marck Biosciences through a combination of direct and secondary transactions. Tata directly invested INR450 million (approximately US$8.3 million) in Marck for a 13 percent stake and purchased the remaining 6 percent from Indian… Read More
Asia-focused private equity firm Baring Private Equity Asia has increased its stake in Chinese cosmetics and skincare products manufacturer Magic Holdings. Baring purchased over 7.3 million shares on the Hong Kong Stock Exchange for HKD22.3 million (approximately US$2.9 million) through Baring Asia Private Equity Fund V, raising its stake… Read More
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