MARCH 2016

FOOD & BEVERAGE

Dairy

MILK MANTRA (IND) IN TALKS WITH SAMARA CAPITAL (IND) TO RAISE INR 2 B

MILK MANTRA will use the capital to fund its expansion plan. The new fund raising round will provide an exit for current backer FIDELTY GROWTH PARTNERS. The new investors will acquire significant minority stake, and MILK MANTRA has hired KMPG INDIA to find new investors.

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

29 March 2016 / LiveMint

LACTALIS has agreed to buy the dairy business of ANIK INDUSTRIES

France-based dairy corporation LACTALIS has announced that it will purchase the dairy business of Indian conglomerate ANIK INDUSTRIES for USD 70.6 M. The dairy business generated 68% of the group’s total revenue in FY2015 (USD 153.4 M).
This is the second deal for LACTALIS in India in the past 2 years after its purchase of TIRMULA at a reported USD 275 M value in 2014 as a “platform through which to develop the business in India”.

EV/Sales: 0.5x

29 March 2016 /Just Foods


Food

Private equity firms in running to buy 49% of JAYA GROCER (MLY)

Major PE names like TPG Growth, Creador and Singapore based Japanese fund is shortlisted in the deal that values the chain at MYR 175 M. PE firms that were initially interested included NAVIS Capital & the ABRAAJ GROUP. The sale will be conducted by Deloitte on an open bid system.

EV/Sales: 0.6x
EV/EBITDA: 10x

25 March 2016 / The Star Malaysia

South Korea’s ELAND picks KKR as preferred bidder for hypermarket chain

KKR is in talks to acquire operating rights for KIM’s CLUB’s 37 hypermarket chains in South Korea, as well as facilities such as logistics centers. E-land is seeking KRW 700 – 1000 B (USD 598 – 854 M) for the rights to the hypermarket chain.

28 March 2016 / Reuters

CENTURY PACIFIC (PHL), Singapore’s GIC to buy SHAKEY’s (PHL) pizza chain

The move to buy out the local operation of US-based SHAKEY’s is the second deal between CENTURY PACIFIC and GIC. SHAKEY’s has 170 stores in the Philippines, and the deal would allow CENTURY PACIFIC to benefit from the country’s fast growing restaurant driven industry and rapidly expanding middle class.

23 March 2016 / Deal Street Asia

CONSORTIUM launched to take SELECT GROUP (SGP) private

INTERNATIONAL CULINARY MANAGEMENT (ICM), which is 45% owned by a unit of DYMON ASIA PRIVATE EQUITY, have offered SGD 0.525 per share conditional on more than 50% of SELECT GROUP’s shares being acquired by ICM. This threshold is likely to be reached as 54% of investors holding SELECT’s issued shares have undertaken to accept the offer.

EV/Sales: 0.6x
EV/EBITDA: 6.3x

24 March 2016 / Straits Times

HEALTH & BEAUTY

Healthcare

BLACKSTONE, TPG, TEMASEK PLANS TO ACQUIRE KIM’S HOSPITAL CHAIN (IND)

ASCENT CAPITAL & ORBIMED ADVISORS will sell their combined 40% stake, while promoters will dilute an additional 15-20% for a deal worth USD 300 M. ROTHSCHILD is advising the exiting PE investors in KIMS. The investors have shortlisted 8-10 PE funds, and discussions are expected to begin in a month’s time.

2 March 2016 / Reuters

ENGINEERING & CLEANTECH

Engineering & Construction

)RVPEC (a Turkey and Philippines JV) & BCDA signs pact for mini-hydro power plant

RIVERFLOW VENTURE AND POWER ENERGY CORP (RVPEC) has signed a deal with BASES CONVERSION AND DEVELOPMENT AUTHORITY (BCDA) for the rebuilding of a mini-hydro power plant. The hydropower facility will provide ample power supply and more affordable electricity rates.

28 March 2016 / Deal Street Asia


Telecommunications

MYREPUBLIC taps DBS & Goldman to help raise USD 181 M

MYREPUBLIC, backed by French billionaire Xavier Niel & Indonesia’s Sinar Mas group, has tapped on DBS & GOLDMAN to raise USD 181 M in its bid for the new fourth mobile phone license. Bidding for the mobile spectrum will start in the third quarter this year, with a SGD 35 M reserve price.

16 March 2016 / Straits Times


Water & Waste Management

ELIXIR CAPITAL (USA) invests USD 4.5 M in BINTANG MAKMUR (IDN)

Global private equity firm has announced an agreement to invest in BINTANG MAKMUR, a plastic waste management SME. The investment will help BINTANG MAKMUR to expand and create 50 new recycling sites in Java and Bali, bringing market share backed to locally owned hands.

11 January 2016 / Deal Street Asia

DMCI-PDI (PHL) sells 10% stake in Subic Water to Olongapo City for USD 4.5 M

DMCI-PDI, a wholly owned subsidiary of Philippine conglomerate DMCI Holdings, has sold 10% of its stake in Subic Water & Sewerage company for USD 4.5 M to the city government of OLONGAPO. The DMCI-PDI still maintained 30% of SUBIC WATER’s outstanding capital stock after the sale.

28 March 2016 / Business World Online


Renewable Energy

SINDICTUM (SGP) planning to set up new solar plant

After formerly unveiling a USD 40 M solar farm in the Philippines, the Singapore based SINDICATUM is considering setting up a new plant at USD 32 M. SINDICATUM has signed a land lease agreement with state owned BCDA for a 38 Hectare property, and BCDA will operate the planned 20-25 MWs of additional RE capacity.

13 March 2016 / Deal Street Asia

ENFINITY (BEL) sells 70 MW solar projects to investment fund

Belgium based power firm ENFINITY has divested to investment fund its 50 MW solar project in Tarlac and 20 MW solar project in Clark. The terms of the deal were not disclosed, but ENFINITY reports that the Tarlac project costs around USD 76.6 M.

13 March 2016 / Deal Street Asia

NEW TECH

Payment Solutions

FINTECH APP MOMO (VNM) ATTRACTS USD 28 M FROM STANDARD CHARTERED, GOLDMAN SACHS

Standard Chartered PE (SCPE) put in USD 25 M to lead the round, while Goldman adds a further 3 M. With this funding, MOMO plans to grow its banking network to 11,000 agents by the end of 2017, and increase the retail & merchant partners on its platform.

22 March 2016 / The Paypers

UTKARSH MICROFINANCE (IND) TO RAISE USD 53 M FROM DOMESTIC INVESTORS

UTKARSH Microfinance is set to raise USD 53 M in an effort to bring foreign holding in the company to below 50%. The company plans to open 125 new branches in addition to the 325 microfinance branches it has. Shareholders will stay after the primary transaction, but may off load stakes after the secondary transactions.

30 March 2016/ Deal Street Asia


Adtech

ASIAMX (SGP) secures investment led by MARVELSTONE (KOR)

ASIAMX (SGP) has secured a six figure funding from angel investors and MARVELSTONE’s accelerator 10K ASIA.
The investment will be used to launch a TV advertising sell-side exchange in Asia Pacific. the platform will be launched in the coming weeks, and will be looking to expand beyond southeast Asia.
ASIAMX is 10K Asia’s first investment in the adtech space.

15 March 2016 / Deal Street Asia


E-commerce

EZBUY (SGP) closes USD 20 M round led by VISION KNIGHT CAPITAL (CHN)

Formerly known as 65DAIGOU, the Singapore based e-commerce company has rebranded to EZBUY, following a USD 20 M series B round led by Chinese VC VISION KNIGHT CAPITAL, with participation from exisiting investors IDG VENTURES, CGC CAPITAL (US).

23 March 2016/ e27

FASHIONVALET (MLY) secures series B funding from START TODAY (JPN)

Fashion e-commerce portal FASHIONVALET secures multi-million dollar Series B strategic investment from Japan’s START TODAY (operator of Japan’s largest online fashion mall ZOZOTOWN). This funding came only 12 months after its series A funding from ELIXIR CAPITAL (USA).

30 March 2016/ Deal Street Asia

LUXURY & LIFESTYLE

Fashion

ASPINAL OF LONDON TO SELL STAKE TO SUPPORT INTERNATIONAL GROWTH

British luxury handbag brand is considering a sell of a stake to support its international expansion plan. The company has called in advisors from PWC to lead the process. Financial Analysts estimate the value of the company to be at GBP 75 M.

30 March 2016 / FashionMag

SHANDONG RUYI (CHN) TO TAKE OVER SCMP (FRA)

TChina’s SHANDONG RUYI is set to buy control of SCMP – the French firm behind the fashion brands, SANDRO, MAJE & CLAUDIE PIERLOT for USD 1.5 B. SCMP is controlled by KKR, who backed the deal with the Chinese group over an IPO. SCMP plans to expand outside France to China, the US, Britain, Spain & Italy.

EV/Sales: 1.9x
EV/EBITDA: 12x

30 March 2016 / FashionMag


Education

SIS – SINGAPORE INTERNATIONAL SCHOOL (IDN) to get USD 20 M IFC debt for ABRAAJ led Indonesia expansion

The SIS group currently operates 8 schools in Indonesia serving over 2,800 students, and is looking to add 3 or 5 campuses in Indonesia. Estimated cost of adding 5 campuses is USD 38 M. IFC, the private lending arm of the World Bank is proposing to extend USD 20 M financing facility. The project’s main sponsor is the ABRAAJ Group.

28 March 2016 / Deal Street Asia


Food Service

HALLYU VENTURES (SGP) picks up 38% stake in CAFEE BENE (KOR)

HALLYU Ventures is a JV between Food Empire & the SALIM GROUP (IDN), and has the mandate to invest in F&B companies in South Korea, and the Northeast Asian region. This deal will see HALLYU Ventures as the second largest shareholder in the South Korean coffee chain.

7 March 2016 / Deal Street Asia


Hospitality

BUDGET HOTEL TINGGAL (IDN) RAISES USD 1 M FROM WUDSTAY (IDN) & OTHER INVESTORS

Budget hotel networks are a major trend for the tech industry in Southeast Asia. TINGGAL is less than a month old and has raised USD 1 M from India’s WUDSTAY & other investors that previously backed WUSTAY when it launched in July last year. TINGGAL plans to cover Indonesia’s major cities over the next 12 months.

2 March 2016 / TechCrunch