DECEMBER 2015

FOOD & BEVERAGE

Beverage

THAI BEVERAGE LOGISTICS (THA) SELLS ITS STAKE IN SERMSUK (THA) TO SO WATER (THA)

THAI BEVERAGE sold 67% of its stake in SERMSUK for THB 10 B (USD 227 M) to SO WATER CO. The share divestment is part of the restructuring process of THAI BEVERAGE PLC, and was done at THB 58 per share, higher than its previous closing price of THB 51 per share.

EV/LTM Revenue: 1.2x

28 December 2015/ Deal Street Asia

SINGHA (THA) to gain foothold in Vietnam with USD 1.1 B MASAN GROUP (VNM) DEAL

SINGHA holdings signed a USD 1.1 B deal with Vietnam’s MASAN GROUP to buy stakes in 25% of MASAN CONSUMER HOLDINGS and 33.3% of MASAN BREWERY. This move would allow SINGHA to expand in Vietnam and give MASAN a foothold in Thailand.

26 December 2015/ Reuters

KEURIG (USA) to go private in a USD 13.9 B buyout led by JAB (LUX)

Luxembourg based JAB HOLDINGS led investor group has agreed to acquire KEURIG GREEN MOUNTAIN for USD 92 per share or around USD 13.9 B in cash in a bid to consolidate its coffee enterprise. This offer is a 78% premium over the closing share price of KEURIG’s closing share price on 04 December 2015.

07 December 2015 / Bloomberg


Food

KKR (USA) continues to unload shares in MASAN CONSUMER (VNM)

Private equity firm KKR has sold nearly 10 M shares of MASAN CONSUMER, leaving it with 7.9% of the Vietnamese consumer goods firm.

This represents the second round of sales of MASAN CONSUMER, following the initial sale of KKR’s holdings in the business in July (KKR owned more than 20% of MASAN CONSUMER after collectively investing USD 359 M in the company from 2011 to 2013). Buyers of both transactions remain undisclosed.

20 December 2015/ Deal Street Asia

HEALTH & BEAUTY

Healthcare

CPSI (USA) acquires HEATHLAND (USA) in USD 250 M deal

Electronic health records vendor, CPSI, which develops healthcare information systems for rural and critical access hospitals, will acquire rural competitor HEATHLAND for USD 250 M in cash and stock. The combined company will serve about 1,200 hospitals and 3,300 post-acute care facilities. CPSI said that the combined company would have annual revenue of about USD 300 M in 2015.

01 December 2015 / Healthcare IT News

Mobile based healthcare app MERADOCTOR (IND) grabs funding

MERADOCTOR (IND), a virtual consultation platform, has raised INR 67 M (USD 1 M) in
pre-series A funding led by UNILAZER VENTURES and existing investor INDIA QUOTIENT.
The funding will be used towards enhancing its technological offerings and increasing its technology and management teams.

01 December 2015 / Healthcare IT News


Pharmaceuticals

German generic drug maker DERMAPHARM up for sale

Privately held DERMAPHARM has attracted interest from buyout groups in a deal that could put its value at EUR 1 B.
Some of the private equity firms that have submitted bid for DERMAPHARM include CINVEN, BC Partners and ADVENT according to Reuter sources.

The deal is estimated to be around 12x EBITDA (EBITDA ~ EUR 80 M).

21 December 2015/ Reuters


Cosmetics

AVON (USA) and CERBERUS CAPITAL (USA) enter into a USD 605 M Strategic Partnership

AVON entered into an alliance with the private equity firm CERBERUS CAPITAL. The transaction involves CERBERUS investing USD 435 M into AVON in the form of convertible perpetual stock. AVON NORTH AMERICA will also be separated from AVON into a privately held company that is 80% owned by CERBERUS in exchange for a USD 170 M investment.

21 December 2015/ Forbes

ENGINEERING & CLEANTECH

Engineering & Construction

BANGCHAK PETROLEUM PLC (THA) to divest 10% stake in POTASH (THA)

The state majority owned oil refinery BANGCHAK to divest 10.7% of its stake in ASEAN POTASH CHAIYAPHUM to S GROUP AEC (THA) for THB 203 M (USD 5.63 M) in order to avoid losses from mining production. The sale is spurred by the slump in potash prices, which fell from USD 700 in 2014 to USD 300 early this year.

29 December 2015/ Deal Street Asia

PAHARPUR COOLING TOWERS (IND) acquires SPX’S dry cooling business

India’s PAHARPUR COOLING TOWERS has acquired Brussels based SPX COOLING TECHNOLOGIES business globally for USD 48 M (INR 3.2 B). The deal includes SPX’s stake in its joint venture with SHANGHAI ELECTRIC, China.
The deal is a strategic acquisition aimed at expansion and to provide better solutions to Indian power producers.

15 December 2015 / The Economic Times

Proposed acquisition of NEPTUNE ORIENT LINES (SGP) by CMA CGM (FRA)

CMA CGM S.A has made a pre-conditional Voluntary Cash Offer for all the issued and paid up ordinary shares of NOL. The offer price of SGD 1.3 per share of an all cash deal, representing a 6.1% premium.

Offer Valuation:
EV/LTM EBITDA: 16.1x

4 December 2015 / Wall Street Journal


Water Treatment & Waste Management

STATE POWER INVESTMENT CORP (CHN) acquires PACIFIC HYDRO (AU)

PACIFIC HYDRO (AU) was sold by fund manager IFM INVESTORS to the Chinese government controlled STATE POWER INVESTMENT CORP (SPIC). The deal, which is expected to be complete in the first quarter of next year, is estimated to be worth around AUD 3 B.
PACIFIC HYDRO owns 900 megawatts of generation capacity across 19 hydropower dams and wind farms, but the acquisition is relatively small for SPIC, which owns USD 113 B of assets across 25 countries.

16 December 2015 / Sydney Morning Herald


Renewable Energy

German Utility Giant RWE to spin off renewables

RWE to spin off its renewables business by offering a 10% stake in the group to the public via IPO.
The new company expected to generate around EUR 4 B in annual EBITDA on EUR 40 B in revenue. 10% of the new company is expected to be sold to investors by the end of 2016. Eventually around 49% is expected to be sold to gain access to fresh funds.

01 December 2015 / Clean Energy Wire

NEW TECH

Payment Solutions

MOBIKWIK (IND) gets series B funding

Mobile recharge and payments portal MOBIKWIK, has raised INR 440 M (USD 6.6 M) in a combination of both debt financing and private equity from its existing investors SEQUOIA CAPITAL and TREE LINE ASIA. SEQUOIA CAPITAL invested INR 224 M, and TREE LINE ASIA invested INR 99 M. It also received USD 2 M in debt funding from INNOVEN CAPITAL.

29 December 2015 / The Economic Times


E-commerce

PAYTM (IND) acquires hyperlocal services marketplace NEAR.IN (IND)

The mobile payment and ecommerce platform PAYTM has acquired Gurgaon based online marketplace for hyperlocal services NEAR.IN. The deal size is undisclosed, however, sources near to the deal pegged deal size to be between INR 100 M – INR 130 M (USD 1.5 M to USD 2 M).

07 December 2015 / Deal Curry

PEPPERTAP (IND) closes series B funding round with USD 40 M

Gurgaon-based on-demand hyperlocal grocery delivery service startup, PEPPERTAP has closed its Series B funding round by raising INR 265 M (USD 4 M) from INNOVEN CAPITAL. It had recently raised about INR 2.37 B (USD 36 M) from SNAPDEAL, SEQUOIA INDIA, SAIF PARTNERS, RU-NET, BEENEXT and JAFCO ASIA.

21 December 2015/ Economic Times

BURPPLE (SGP) digital food guide gets SGD 8.5 M in funding

BURPPLE secures SGD 8.5 M in funding from TEMBUSU PARTNERS, SPH MEDIA FUND and TRIUMPH CAPITAL. BURPPLE’s user base has doubled to over 4 million over the past year, and more than 1000 owners have signed up for BURPPLE’s business service.

01 December 2015/ Straits Times

LUXURY & LIFESTYLE

Shopping

BLACKROCK (USA) sells luxury mall to PAVILION REIT (MLY) for USD 37 M

BLACKROCK sold INTERMARK MALL to PAVILION REIT for MYR 160 M (USD 37.3 M). The INTERMARK will provide PAVILION REIT a rental guarantee of MYR 15 M for three years to be held by a trustee. The mall has a 74% occupancy rate at the valuation date on 30 September.

29 December 2015/ Reuters


Food Service

KALAARI CAPITAL (IND) invests in EATFRESH (IND)

EATFRESH, an online marketplace for meals prepared by chefs, has secured an undisclosed amount of funding from existing investor KALAARI CAPITAL, taking total capital raised by the company to over INR 250 M. The funding will be used to expand the startup.

17 December 2015/ Deal Curry


Hospitality

IFEC (THA) to take over DHARA DHEVI group (THA) for USD 70 M

Thailand’s listed alternative energy firm INTER FAREAST ENERGY CORPORATION (IFEC) is to acquire the DHARA DEVI hotel group in Chiang Mai for USD 70 M, as part of a diversification into property business. The energy firm hopes that this acquisition would help in generating recurring income in the long term.

15 December 2015 / Deal Street Asia

ACCOR (FRA) to acquire FRHI HOTELS & RESORTS (CAN) for USD 2.9 B

French Hotel Operator ACCOR SA has agreed to acquire FRHI Hotels and Resorts for USD 2.9 B in cash and stocks. The acquisition will consist of a cash payment of USD 840 M in addition to the issuance of 46.7 million shares of ACCOR. ACCOR Hotels aims to generate around EUR 65 M in revenue and cost synergies.

10 December 2015/ Channel News Asia


Travel

THOMAS COOK (IND) acquires KUONI TRAVEL (IND)

THOMAS COOK has completed acquisition of a 100% stake in KUONI TRAVEL. The deal worth INR 5.4 B was announced in early August. THOMAS COOK shares gained 1.2% to INR 202 upon receiving approval from the Competition Commission of India.

15 December 2015/ Business Standard


Wine & Spirits

ANHEUSER-BUSCH INBEV (BEL) buys BRECKENRIDGE BREWERY (USA)

This makes the third craft brewer that ANHEUSER INBEV has acquired in 5 days, following the deal with CAMDEN TOWN BREWERY (UK) on Monday, and acquisition of FOUR PEAKS BREWING (USA) on Friday. Terms of the deal were not announced, but these deals would increase their distribution potential.

22 December 2015/ Fortune