FEBRUARY 2016

FOOD & BEVERAGE

KV ASIA CAPITAL (SGP) acquires controlling stake in TF VALUE MART (MLY)

TF VALUE MART operates a chain of 18 hypermarkets across 5 states in Malaysia, offering fresh produce, grocery products and general merchandise. The acquisition was done through its related investment vehicle PETA SEHAJTRA. Deal value was not disclosed.

19 February 2016/ KV ASIA CAPITAL

BURIRAM SUGAR (THA) looking for foreign partners to co-invest in sugar production plants

The Thailand listed company is seeking foreign partners to co-invest in two sugar production plants, amounting to THB 10 B (USD 281.7 M). The investment will include no sugar products but also value added by products. The 2 plants are located in Buriram and Surin, with capacity of sugarcane of 20,000 tonnes each.

15 February 2016 / Deal Street Asia

NESTLÉ buys out OSEM for EUR 752 M (USD 840 M)

The transaction brought the remainder of OSEM under NESTLÉ’s control, making Israel’s largest publically traded food manufacturer private. OSEM’s shares soared 26% following the announcement.

04 February 2016/Food Navigator

BANDAR FOODS raised USD 2 M in seed round

Singapore based ACP Venture Capital participated in the US based Indian inspired snacks and condiments firms Bandar Foods. Other backing the round are AccelFoods, Volta Global & Karl Ulrich (Wharton School of Management Vice Dean of Entrepeneurship).

Thomson Reuters

HEALTH & BEAUTY

Healthcare

EURO-MED (PHL) to buy DR. EDWARDS trade name and products from ANTECH

EURO-MED will pay P 50 M (USD 1 M) for DR. EDWARDS, a local maker of specialty pediatric healthcare products, by partially offsetting the total receivables due from ANTECH worth P 98.4 M. EURO-MED plans to take the DR. EDWARDS brand overseas.

24 February 2016/Manila Standard Today


Fragrance

BLACKSTONE, CARLYLE in talks to pick stake in fragrance company INDFRAG (IND)

INDFRAG has mandated LAZARD to find a buyer in a deal that will value the company at ~USD 145 -175 M. The news comes on the heels of a successful IPO of SH Kelkar which allowed Blackstone to exit at 4x gains, indicating interest of investors in fragrance companies.

EV/Revenue: 4x
EV/EBITDA: 16x

29 February 2016/ Economic Times India

ENGINEERING & CLEANTECH

Engineering & Construction

EXOVA GROUP (UK) acquired 70% stake in ADMATERIALS TECHNOLOGIES (SGP)

EXOVA Group, a global testing, calibration & advisory service provider has acquired 70% stake in ADMATERIALS TECHNOLOGIES, a Singapore based firm that provides services to the construction sector, in a move to provide foundations for their growth in the ASEAN region

EV/Revenue: 0.7x

28 February 2016/Deal Street Asia

LUXCHEM (MLY) buys TRANSFORM MASTER (MLY) for MYR 46 M (USD 11 M)

The acquisition of the chemical product manufacturer s settled through a MYR 36.8 M cash and an issue of 5.2 M new shares in LUXCHEM at an issue price of MYR 1.8 per share.

3 February 2016/ Deal Street Asia

MITR PHOL to buy biomass plant for THB 510 M (USD 14.36 M)

The Thailand based sugar manufacturer MITR PHOL has entered into an MoU to acquire Power Prospect Co’s biomass power plant from Power Line Engineering PLC for USD 14.4 M. The plant has total capacity of 9.9 megawatts.

17 February 2016/Biofuelsdigest


Logistics

HNA GROUP (CHN) to buy INGRAM MICRO (USA) for USD 6 B

The offer comes from HNA unit TIANJIN TIANHAI INVESTMENT CO, to buy at INGRAM MICRO at USD 38.9 per share (~ 31.2% premium). This deal will bolster HNA’s logistic network.

EV/Sales = 0.2x
EV/EBITDA = 15.8x (their cost of sales is ~94% of their sales revenue)

18 February 2016/ Wall Street Journal


Renewable Energy

Singapore-listed AusNet Services acquires Origin Energy Mortlake asset for $78m

Australian firm Origin Energy Limited is selling its asset, Mortlake Terminal Station, to Singapore-listed AusNet Transmission Group Pty Ltd (AusNet Services) for a cash consideration of AUD 110 M ($78.2 million).
These arrangements are expected to increase AusNet Services’ cash inflows by AUD 8.8 M in FY2018, being the first full-year contribution.

EV/EBITDA = 12.9x (FY 2017 Forward EBITDA)

14 February 2016 / DealstreetAsia

NEW TECH

E-commerce

VNG CORPORATION (VNM) invests USD 10 M in e-commerce platform TIKI (VNM) for 20% stake

Vietnam’s first unicorn VNG has invested USD 10 M in TIKI for a significant minority stake. TIKI, which started out selling books and now expanded to selling a wider range of products, have previously raised seed funding from Cyberagent Ventures, Sumitomo & Seedcom.

02 February 2016/Deal Street Asia

JJ CAPITAL (CHN) leads USD 15 M series A in 55HAITAO (CHN)

55HAITAO is a Chinese cross-border shopping guide that provides localized contents for investors worldwide to reach Chinese audience easily. 55HAITAO is partnered with more than 3500 firms globally, including Amazon & GNC. Global e-retailers receive 5k -10k orders from 55HAITAO daily, and they generated over USD 150 M in sales via 55HAITAO in 2015.

29 February 2016/PR Newswire

LUXURY & LIFESTYLE

Luxury

APOLLO Global Management has excited its entire holding in the Indian super luxury residential project Ahuja Project

APOLLO private equity who has recently set up a real estate private equity platform, has sold its holding for USD 70 M
The exit has given Apollo Global a two-fold return on its original investment in Ahuja Towers, which is a 53-storey project. The private equity firm had invested about Rs 200 crore for 49 per cent voting rights in the company six years ago.

7 January 2016 / Deal street Asia


Fashion and Retail

WEARYOUWANT (THA) raises final Series B round from Middle East oil funder

Thailand-based online fashion marketplace WearYouWant has announced today that it has secured its final Series B round from Sebrina Holdings. The sum is currently undisclosed.
WearYouWant plans to use the funds for marketing efforts and roll out several content based initiatives via social media
WearYouWant previously secured a US$1.5 million Series A funding in 2014 from Digital Media Partners, OPT SEA, IMJ Investment Partners.


Hospitality

TOPGLOBAL (SGP) acquires 35% stake of 5FOOTWAY (SGP)

The stake acquisition involves purchasing 40 K shares in 5FOOTWAY for a cash consideration of SGD 520 K, and another 476 K new shares in 5FOOTWAY for SGD 1.9 M. 5FOOTWAY will become an associated company of TOPGLOBAL when the transaction is completed.

17 February 2016/ Business Times

HYATT HOTELS CORP and THAIGROUP (VNM) enter into USD 165 M investment cooperation deal

HYATT HOTEL and Vietnam’s unlisted THAI GROUP has agreed to build a USD 165 M hotel project in Hanoi. The hotel will comprise of nearly 300 rooms and is expected to be complete by 2018. Further details of the deal are not disclosed.

16 February 2016/ Reuters

ERAWAN GROUP (THA) to invest USD 282.8 M over the next 5 years on capacity expansion

The group, one of Thailand’s major luxury hotel operators, is looking at doubling its capacity to 10000 rooms in 95 hotels across Southeast Asia via capacity expansions & mergers and acquisitions. Half the budget will be spent in Thailand, 30% in the Philippines and the remaining 20% acquiring budget hotels in other countries.

10 February 2016/Deal Street Asia


Tourism

Tan Chong’s travel agency MAYFLOWER (MLY) buys 55% stake in GOCAR

MAYFLOWER, has acquired a 55 per cent stake in the KL based on-demand car rental startup GOCAR.
Through the acquisition, GoCar will operate as a subsidiary company of Mayflower but will still maintain its name and branding, with its founder and executive director TJ Tan still at the helm of the startup’s operations and strategy.