Investment News
KKR And CDH Sell Down China Modern Dairy In Profitable Exit
Kohlberg Kravis Roberts & Co. (KKR) and CDH Investments agree to sell their stakes in China Modern Dairy to China Mengniu Dairy in a potentially profitable partial exit. Hohhot, Inner Mongolia-based Mengniu Dairy is forking out approximately $410 million to increases its shareholding in Modern Dairy from 1% to 28%, becoming the single largest shareholder [...]
TPG Plans UniTrust Exit, Deal Could Yield Four Times Return
Global private-equity firm TPG is looking to exit Chinese equipment leasing company, UniTrust Finance & Leasing Corp., in a potentially profitable trade sale. Founded in 2004, Shanghai-based UniTrust could be valued at more than $800 million. TPG first acquired 50% of UniTrust in 2008 at the depth of the financial crisis.
Chinese Private Wealth Market Doubles In Four Years
The number of Chinese high net worth individuals (HNWIs), defined as individuals with at least RMB10 million ($1.6 million) in investable assets, grew to more than 700,000 at the end of 2012, more than doubling since the end of 2008, according to the China Private Wealth Report 2013 co-authored by Bain & Company and China [...]
Infinity Partners With COFCO To Build Eco-Valley In Beijing
Infinity Group (Listen to our interview with Amir Gal-Or, founder of Infinity Group here), Beijing-headquartered Sino-Israeli private equity firm, is partnering with Chinese food giant, COFCO (China National Cereals, Oils and Foodstuffs Corporation), to build an Eco-Valley in Fangshan, Beijing.
CIC And Russian Direct Investment Fund To Double Size Of Joint Fund
Kirill Dmitriev, CEO of Russian Direct Investment Fund, says that it plans to double its joint private equity fund with China Investment Corporation to $4 billion from $2 billion, according to Chinese state media. Last June, China Investment Corp (CIC) and the Russian Direct Investment Fund (RDIF) each committed $1 billion to jointly establish the [...]
IMF Predicts Asian Growth To Speed Up To 5.75% In 2013
After a year of subdued economic performance, growth in Asia is set to pick up this year driven largely by continued robust domestic demand, says the IMF in its latest Regional Economic Outlook, which predicts growth will reach about 5.75% in 2013. Consumption and private investment will be supported by favorable labor market conditions in [...]
Intel Capital-Backed ASPEED Technology IPOs In Taiwan
Intel Capital's portfolio company, Hsinchu City, Taiwan-based ASPEED Technology Inc., IPOs today on Taiwan's GreTai Securities Market, the island's over-the-counter market. Reflecting a still tough IPO market worldwide, this is Intel Capital's first IPO by one of its portfolio companies this year. Founded in 2004, ASPEED Technology is a software and network applications company.
Focus Media Privatization Deal Gets Green Light From Shareholders
NASDAQ-traded Focus Media says today that shareholders have voted to approve a deal to privatize the company, adding to a long list of Chinese companies that have quit foreign exchanges. Previously announced on December 19 last year, the go-private deal values the Shanghai-based Chinese advertising company at $3.7 billion at a price tag of $27.50 [...]
2013 Could Be The Best Year For Private Equity Fundraising
2013 could be the best year for global private equity fundraising since 2009, according to Palico.com, an online platform that connects Limited Partners (LPs) and General Partners (GPs). (Listen to our interview of Palico's founder Antoine Dréan here)
Vector, CITIC To Sell RAE Systems To Honeywell In Profitable Exit
Honeywell has agreed to buy RAE Systems, Inc. for $340 million from its private equity owners, Vector Capital and CITIC Capital Partners. Headquartered in San Jose, California and founded in 1991, RAE Systems manufactures intelligent gas and radiation detection systems used in more than 120 countries.
China Home To Half Of The World's Shopping Center Space Under Construction
An unprecedented 32 million square meters of shopping center space is currently under construction across the world. Of that, China is home to 16.8 million square meters of space, taking up more than half of all the space under construction globally, according to a report published by global real estate service firm CBRE.
3SBio Inc. Gets Higher Bid From CEO and CITIC Private Equity
3SBio Inc., a Chinese biotechnology company, says a consortium has raised its offer to take the Shenyang-based company private for about $370 million. The consortium includes 3SBio's CEO Dr. Jing Lou and CPEChina Fund, a China-focused private equity fund associated with CITIC Private Equity Funds Management Co.
