AUGUST 2015

FOOD & BEVERAGE

Dairy

NOVA GROUP (VN) forays into dairy business with USD 50 M investment in ANKA IRELAND FARM

Vietnam-based NOVA GROUP will invest USD 50 M into the production line in ANKA IRELAND FARM to produce ANKA branded formula milk in Europe & distribute to the Vietnamese market, planning to gain a 5% market share within the first 3 years of investment.

21 August 2015 / Deal Street Asia

SIC COMBIBLOC LTD (GER) partners with FRISIAN FLAG INDONESIA

German supplier of carton packing SIC COMBIBLOC LTD has partnered with FRISIAN FLAG INDONESIA, a subsidiary of ROYAL FRIESLANDCAMPINA, to launch a strawberry & chocolate milk carton in CombiblocXslimhad 80ml size.
FRISIAN claims that from 2013 to 2019, the number of small-format beverage packages, is set for an annual growth rate of 5.4% worldwide. In Indonesia the growth rate is expected to grow more than 50% until 2020.

8 August 2015 / Reuters


Food

METRO (GER) acquires CLASSIC FINE FOODS (SGP) for USD 328 M

METRO, a German retailing giant, will buy CLASSIC FINE FOODS, an importer & distributor of fine foods, from PE EQT PARTNERS (DEN) for an EV of USD 290 M.
The remaining USD 38 M will be paid when CLASSIC FINE FOODS achieve certain pre-tax earnings target from 2015 – 2017.
METRO plans to expand CLASSIC FINE FOODS to selected European markets.

EV/Revenue: 1.3x – (1.5x if they achieve pre-tax earnings target)
EV/EBITDA: 15.2x – (17.2x if they achieve pre-tax earnings target)

6 August 2015 / Finance in Asia

NAVIS CAPITAL (MYS) plans to sell chicken processing company GOLDEN FOODS SIAM LTD (THA) in USD 300 M deal

TPE firm NAVIS CAPITAL bought GOLDEN FOODS, the former Thai unit of UK-based GRAMPIAN COUNTRY FOOD GROUP, between USD 50-100 M in 2009 during the global financial crisis. The sale of GOLDEN FOODS SIAM could raise as much as USD 300 M for NAVIS.
NAVIS founding partner & co-managing partner said that the firm is looking to divest from its pre-crisis investments & aiming for up to USD 2 Bn worth of exits.

20 August 2015 / Deal Street Asia

HEALTH & BEAUTY

Healthcare

Listed property developer EVERLAND PCL (THA) acquired majority stake in KORAT MEDICAL GROUP (THA)

IEVER acquired 78.6% stake in KMG from the existing shareholders for USD 3 M & KMG will become a new subsidiary of EVER.
KMG has been running a small 35-bed private hospital KORAT MEMORIAL HOSPITAL, after the acquisition, KMG has projected that its revenue will surge to USD 3 M in 2016.

4 August 2015 / Deal Street Asia

FULLERTON HEALTHCARE (SGP) acquires majority stake in HMMP LIMITED (HKG)

FULLERTON HEALTHCARE GROUP closed the acquisition of a majority stake in HMMP LIMITED to transform healthcare standards across Asia & make healthcare more accessible in the region. Terms of the acquisition are undisclosed.
Established in 1996, HMMP manages a network of over 700 medical clinics strategically located across Hong Kong.

12 August 2015 / Business Times


Pharmaceuticals

KIMIA FARMA (IDN) to invest USD 71 M in new pharmaceutical plant

PT KIMIA FARMA TBK is planning to invest USD 70 M in a new pharmaceutical manufacturing facility to cater to the growing domestic demand for herbal medicines.
The plant is designed to have a production capacity of around 3.6 Bn tablets per year more than tripling current capacity.

20 August 2015 / Reuters

ENGINEERING & CLEANTECH

Engineering & Construction

GREYORANGE (SGP) raises USD 30 M in Series B from TIGER GLOBAL & BLUME VENTURES

Founded in 2011, GREYORANGE is a technology startup that is creating hardware & software products for warehousing industry. In a round lead by TIGER GLOBAL MANAGEMENT & BLUME VENTURES, GREYORANGE has raised USD 30 M.
The funds will be used to develop new products & expand internationally into Asia Pacific, Middle East & Europe. GREYORANGE has more than 300 employees & claims to have 90% market share in India’s warehouse automation market at 180,000 sq. ft. of warehouse.

11 August 2015 / Tech In Asia


Water Treatment

BASES CONVERSION & DEVELOPMENT AUTHORITY (PHI), MORONG POWER & WATER CORP close USD 10.7 M water treatment deal

State-run BCDA & MPWC signed agreement for the establishment of USD 10.7 M water treatment & facility in BATAAN TECHNOLOGY PARK (BTP), providing residents of Morong, Bataan more access to affordable & portable water supply.

29 August 2015 / Inquirer.net


Renewable Energy

GIC (SGP) in talks to acquire GREENKO’s Indian assets

GREENKO GROUP, an Indian renewable energy company, & ARANDA INVESTMENTS, a unit of Singapore state fund GIC, has entered into an agreement for GIC to purchase GREENKO GROUP’s 68% stake in GREENKO MAURITIUS, a Mauritius-based holding firm for Indian assets, for USD 255 M.
Indian assets includes, wind, hydroelectricity, biomass & natural gas assets, along with associated financial liabilities.
GIC invested USD 150 M in GREENKO MAURITIUS in 2013.

17 August 2015 / VC Circle


Waste Management

NAVIS CAPITAL (MYS) sells ECO INDUSTRIAL (SGP) to BEIJING CAPITAL (CHN) for SGD 246 M

NAVIS CAPITAL has exited its investment in Singapore-based waste management company ECO INDUSTRIAL in a trade sale to BEIJING CAPITAL GROUP for SGD 246 M (USD 179M).
The PE firm had acquired a controlling stake in the company in 2007 & has built it into a leading hazardous waste management company in Singapore. The company has shifted its focus from general waste management & invested in industrial & hazardous waste management.

4 August 2015 / Deal Street Asia

NEW TECH

Payment Solutions

India-focused HELION & HK-based HORIZONS VENTURES to invest USD 23.5 M in fintech firm EZETAP (IND)

Bangalore-based mPoS company EZETAP MOBILE SOLUTIONS has pulled in USD 23.5 M in Series C from its currents investors Silicon Valley-based SOCIAL+CAPITAL, HELION VENTURE PARTNERS & BERGGRUEN HOLDINGS.
Other investors are HORIZONS VENTURES (private investment arm of LI KA-SHING) & the CAPRICORN INVESTMENT GROUP.

07 August 2015 / e27

TONETAG (IND) has raised USD 1 M in funding

TONETAG has raised USD 1 M in funding from Mumbai-based RELIANCE CAPITAL’s venture fund arm.
Founded in 2013, TONETAG is a global offline proximity based mobile payment technology startup, which enables contactless payment solutions in existing payment eco system by integrating its proprietary software development kit (SDK) at both merchant & customer interaction points. Partners include MOBIKWK, YESBANK, PAYU & EZETAP.

10 August 2015 / I AM WIRE

MANAGEPAY SYSTEMS (MYS) in talks with top Singapore bank to launch chip & PIN payment solutions

MANAGEPAY SYSTEMS, a Malaysian electronic & mobile payment solutions provider, is in talks with a top Singapore bank to roll out chip & PIN technology by the end of 2015.
The company has obtained approval from Monetary Authority of Singapore (MAS).
First payment solution provider to run a data centre in Singapore as the Government of Singapore wants the data to be within the country.

7 August / Deal Street Asia


Internet

Singapore’s ASCOTT & consortium invests USD 90 M in China’s Airbnb TUJIA.COM

The consortium of investors were led by Singapore developer CAPITALAND’s wholly owned serviced residence business unit, ASCOTT, who have jointly put in USD 50 M in this round. Other investors include ALL-STARS INVESTMENT LTD & TUJIA existing investors including CTRIP.COM INTERNATIONAL LTD.
TUJIA the online apartment sharing platform has raised USD 300 M in its latest funding round, valuing the firm at USD 1 Bn.

3 August 2015 / Deal Street Asia


E-commerce

Indian e-commerce SNAPDEAL raises USD 500 M from ALIBABA (CHN), FOXCONN (TAW) & SOFTBANK (JPN)

Founded in 2010, SNAPDEAL is an Indian online marketplace offering best priced deals on branded products such as mobiles, electronics, apparel & accessories. The deal marks Chinese online marketplace giant ALIBABA’s desire to gain a foothold in the Indian online retail space, a market pegged to be worth upwards of USD 22 Bn by the end of the year.
Prior to this fundraising, SNAPDEAL has already raised over USD 1 Bn in total.

3 August 2015 / Wall Street Journal

REDMART (SGP) raises USD 27 M in Series C to prepare for regional expansion

REDMART is an online supermarket that home-delivers groceries & essentials. The platform enables manufacturers to bypass retailers & engages shoppers directly. For financial year 2014, REDMART saw a jump in revenue (USD 9 M) but an even greater jump in losses (USD 29 M) due to investments in infrastructures.
Existing investors GARENA, SOFTBANK VENTURES KOREA, VISIONNAIRE VENTURES & Facebook’s co-founder Eduardo SAVERIN joined the round, followed by Singapore’s FAR EAST VENTURES.

20 August 2015 / Tech in Asia


Mobile App / SaaS

p>GRABTAXI (MYS) secured USD 400 M in a funding round led by China’s sovereign wealth fund CHINA INVESTMENT CORPORATION

This follows a USD 200 M investment it secured in July in a round led by COATUE MANAGEMENT, with SOFTBANK & TIGER GLOBAL MANAGEMENT participating, valuing the startup at USD 1.5 Bn. The USD 740 Bn Chinese state fund CIC has also backed Chinese transportation app market leader DIDI KUAIDI.
GRABTAXI currently operates in 22 cities across 6 ASEAN states & the fund will be used to pursue further expansion in the region.

15 August 2015 / Reuters

LUXURY & LIFESTYLE

Jewellery

SOO KEE GROUP (SGP) launches IPO on SGX Catalist aims to raise USD 24 M

Founded in 1991, SOO KEE retails jewellery & other keepsakes through the retails brands SK Jewellery, Soo Kee Jewellery, Love & Co. In 2014, it achieved sales of USD 96 M & net profit of USD 8 M.
SOO KEE launched its initial IPO by selling 112.5 million shares with the aim of raising USD 24 M to help fund its expansion in Singapore & Malaysia.

11 August 2015 / Channel News Asia


Food Service

Hong Kong-listed ramen restaurant chain operator AJISEN leads USD 70 M investment in Chinese BAIDU WAIMAI

AJISEN (China) HOLDINGS LTD through its subsidiary AJISEN INVESTEMENTS & together with the Chinese PE firm HINA GROUP HOLDINGS have led a USD 70 M investment in BAIDU WAIMAI, taking a stake of less than 10%.
Launched in May 2014 by Chinese research engine BAIDU, BAIDU WAIMAI is a food delivery O2O (Online-to-Offline) platform, which buys, picks up & delivers restaurant orders that users placed via their smartphone. The app is currently covering roughly 90 major Chinese cities.

3 August 2015 / Sina

EKUINAS (MYS) divests from BURGER KING Malaysia & Singapore

The government-linked PE firm EKUINAS had acquired 95% equity interest in the BURGER KING Malaysia & 100% equity interest in the BURGER KING Singapore through 2011 & 2012.
This divestment generated gross proceeds of USD 17.9 M, a negative IRR of 28.1% & investment recovery of 0.45x of capital invested across 2 funds.

21 August 2015 / Deal Street Asia


Wine & Spirits

KIRIN HOLDINGS CO (JPN) buys MYANMAR BREWERY LTD for USD 560 M

Through its Singapore subsidiary KIRIN HOLDINGS SINGAPORE PTE LTD, KIRIN bought a controlling stake of 55% in MYANMAR BREWERY LTD, the largest beer maker in Southeast Asia, from Singapore FRASER & NEAVE’S.
The remaining shares will be held by military-run MYANMAR ECONOMICS HOLDINGS LTD.

25 August 2015 / Deal Street Asia