SEPTEMBER 2015

FOOD & BEVERAGE

Dairy

PRABHAT DAIRY (IND) plans to raise around USD 48 M through IPO

PRABHAT DAIRY LTD (PDL) plans to garner up to USD 48 M to pay debt & capital expenditure, by issuing fresh equity shares. EDELWEISS FINANCIAL SERVICES LTD, SBI CAPITAL MARKETS LTD & MACQUARIE INDIA ADVISORY SERVICES PVT LTD were managing the IPO.
PDL operates as an integrated milk & dairy products company in India producing about 1.5 M litres of milk a day from its two integrated manufacturing facilities.

FY2015 EV/Sales = 1.4x
FY2015 EV/EBITDA = 13.7x

23 September 2015 / The Economic Times


Food

NEO GROUP (SGP) to acquire 2 food companies in Singapore

Singapore-listed NEO GROUP is acquiring 2 local food companies.
The 1st deal is to acquire 90% of CT VEGETABLES & FRUITS for SGD 5.4 M, a company founded in 1991 & involved in the trading of fruits & vegetables.
NEO GROUP has also agreed to buy a 60% stake in AMAX FOODS for SGD 1.5 M, a company founded in 2014 & involved in the trading of frozen & chilled meats.

19 September 2015 / Deal Street Asia

HEALTH & BEAUTY

Healthcare

US-based private equity firm CARLYLE GROUP acquired 37% stake in Mumbai-based METROPOLIS HEALTHCARE LTD.

CARLYLE GROUP bought 37% stake in diagnostic chain METROPOLIS HEALTHCARE, the deal size should be in the range of Rs. 850 – 900 crores.
METROPOLIS delivers over 15 M medical tests a year through 10 000 laboratories, hospitals & nursing homes & 200 000 consultants. It has 130 laboratories in India & 6 other emerging markets, 750 collection centres & over 3500 employees.

10 September 2015 / Reuters


Cosmetics

Singapore’s MEDIACORP in media-for-equity deal with VC-backed skincare brand

Singapore’s leading media conglomerate MEDIACORP will take an equity stake in VC-backed French skincare brand CRÈME SIMON in return for providing advertising products & services.
This is the first time MEDIACORP goes into a media-for-equity deal with a non-media company & will provide CRÈME SIMON with advertising space & airtime across a range of print, online, TV, radio & out-of-home platforms

28 September 2015 / Channel News Asia

ENGINEERING & CLEANTECH

Water Treatment & Waste Management

TOSHIBA CORPORATION (JPN) acquires a 80% majority stake in UEM INDIA

TOSHIBA, which previously holding a minority 26% & acquired a 80% majority stake in IVFA-backed water services company UEM INDIA PVT LTD to enhance its water & waster-water management business in India and neighbouring countries.
UEM designs & constructs industrial & municipal water & wastewater treatment plants, has executed projects in over 30 countries across India, South East Asia, North America, Central America & Africa.

17 September 2015 / The Times Of India


Renewable Energy

Indian Prime Minister Narendra Modi may seek the solar battery fix at TESLA

Indian PM Narendra Modi visits TESLA MOTORS regarding energy storage solutions, as the Indian government plans to add 100,00 MV of solar power by 2022. TESLA offers energy storage solutions such as TESLA POWERWALL, a rechargeable lithium-ion battery designed to store energy at a residential level.
Experts believe that lithium-ion batteries are expected to be the leading technology for grid-connected, utility scale systems over the next 2 or 3 years. The grid-connected battery energy storage system market expected to increase from USD 0.5 Bn in 2014 to USD 8.3 Bn in 2024.

21 September 2015 / Deal Street Asia

ENEL GREEN POWER (ITA) acquires BLP ENERGY (IND)

ENEL GREEN POWER acquired majority stake close to 60% in Indian renewable energy company BLP ENERGY for USD 34 M for further expansion across Asia. This will be ENEL’s first acquisition in the Asia-Pacific region & help reach more than 10 GW of net installed global capacity.
BLP owns operating wind plants with a total capacity of 172 MW & a total annual production of about 340 GWh.

2015 Revenue = USD 16.9 M
2015 EBITDA = USD 13 M

25 September 2015 / The Economic Times

NEW TECH

Payment Solutions

Indian e-commerce firm FLIPKART bought payments services start-up FX MART PVT LTD for about USD 6.8 M

Indian biggest e-commerce company FLIPKART acquired majority stake in FX MART & 2 senior FLIPKART executives joined the board of FX MART.
Founded in 2013, FX MART has an estimated annual revenue of USD 7 M, it offers electronic payments, foreign exchange & travel services, it also owns a coveted prepaid license issued by Reserve Bank of India, which will allow FLIPKART to offer a digital wallet on its app & avoid paying a cut to external wallet providers.

2 September 2015 / INC 42

KRESNA (IND) to acquire stake in DOMINOPOS (SGP)

Indonesian investment firm PT KRESNA GRAHA INVESTAMA TBK is in the process of purchasing 20% stake in Singapore-based start-up DominoPOS, a software development for mobile payment & CRM. The acquisition process will be completed within the next 2 months & is part of KRESNA’s expansion plan of its investment portfolio.
An IPO is planned for KRESNA in Q4 2015, or no later than Q1 2016, according to its management.

11 September 2015 / Jakarta Globe


E-commerce

SNAPDEAL (IND) to invest USD 100 M in SHOPO (IND)

Founded in 2011, SHOPO is a commission-free mobile-only market place for small & medium businesses that can’t register on bigger e-commerce portals. Acquired by SNAPDEAL in 2013 & re-launched in July 2015, today SHOPO has already 20,000 shops on the platform.
SNAPDEAL is expecting the platform to host 1 M shops online in the next year.

7 September 2015 / The Times of India


Mobile App / SaaS

p>INMOBI (IND) raised USD 100 M from TENNENBAUM CAPITAL

Indian mobile ad firm backed by SOFTBANK GROUP, INMOBI TECHNOLOGIES, has raised USD 100 M in funding in a round led by TENNENBAUM CAPITAL PARTNERS, a LA-based alternative investment management firm.
Founded in 2008, INMOBI is a mobile-first platform allowing brands, developers & publishers to engage consumers through mobile advertising. It taps into 800 M mobile users every month in 165 countries. The start-up was valued at USD 600 M in 2011 based on its revenue of USD 25 M in 2010. In 2013, it got revenues of USD 200 M.

30 September 2015 / Knowstartup

LUXURY & LIFESTYLE

Jewellery

Singapore-based jeweller TLV HOLDINGS LTD to list on Catalist to raise USD 11.9 M

TLV HOLDINGS LTD, through its subsidiaries, is primarily engaged in the sale of jewellery through wholesale & retail outlets. The company has launched its IPO of approximately 76.5 M shares priced at SGD 0.22 / share. The placement will raise approximately USD 11.9 M.
TLV Holdings is being valued at 11.6 times it historical earnings and 1.3 times its book value.

FY2015 Revenue = USD 109 M
FY2015 EBITDA = USD 8.9 M
EV/EBITDA = 11.6x

13 September 2015 / Deal Street Asia



Fashion

Thai fashion e-marketplace WEARYOUWANT secures undisclosed amount in Series B

WEARYOUWANT, Thailand’s largest online fashion & beauty e-commerce platform that offers an online B2B platform for offline retailers, it has raised an undisclosed amount in a Series B round led by Japanese e-commerce company START TODAY.
Other investors include existing investors IMJ INVESTMENT PARTNERS PTE. LTD (SGP) & OPT SEA (SGP) from Series A.

26 September 2015 / e27.co

Food Service

ZOMATO (IND) buys minority stakes in GRAB (IND) & PICKINGO (IND) to strengthen its food ordering business

ZOMATO has taken a high single-digit stakes in GRAB (a hyperlocal delivery service focused on restaurants & food enterprises) & PICKINGO (an on demand B2B hyperlocal delivery service). Financial details of the transaction are undisclosed.
Founded in 2008, ZOMATO is a restaurant research & review website, serving over 30 M monthly visitors globally, providing in-depth information for over 1M restaurants in 22 countries.

Funds raised = USD 225 M
EV (est.) = USD 1 Bn
FY2014 Revenue = USD 6 M

2 September 2015 / Tech in Asia

Singapore-based JUMBO GROUP plans to raise USD 21 M from IPO

Seafood restaurant chain JUMBO GROUP operating across Singapore & China is planning an IPO on the Catalist board. The IPO could reportedly raise USD 21.2 M for JUMBO GROUP, which will be deployed & invested as growth capital to fund further expansion of their operations domestically & abroad.

2014 Revenue = USD 80 M
2014 Net profit = USD 8.15 M
2015 EV/EBITDA = 5.96x

22 September 2015 / The Straits Time

MBK GROUP (THA) to acquire three restaurant chains this year

Thailand’s property & leisure company MBK GROUP will buy three restaurant chains to boost restaurant business. Deals value will be between USD 3 – 28 M, and group’s revenue Is expected to increase from USD 14 M to 85 M in the next five years after the acquisitions.
The group’s restaurant business accounts for 20% of its revenue, generated USD 14 M this year.

14 September 2015 / Deal Street Asia


Hospitality

Thailand’s construction contractor and FICO COPORATION to take over JUPITER HOTELS HOLDINGS (UK)

THAI INDUSTRIAL AND ENGINEERING SERVICE PLC will set up a 50:50 joint venture company with FICO CORPORATION to take over UK-based hotel chain JUPITER HOTELS HOLDINGS (JHH) for USD 119 M, from PATRON JUPITER HOLDINGS SARL & WEST REGISTER HOTELS LTD. JHH operates 26 hotels with 2883 rooms in the UK under MERCURE brand.

2014 Revenue = USD 65.7 M
EV/Sales = 1.81x

4 September 2015 / Hotel News Now


Wine & Spirits

ANHEUSER-BUSCHER INBEV (USA) seeks USD 275 Bn tie-up with SABMILL

The world’s largest brewer AB INBEV has approached rival SABMILLER about a takeover, a merged group would be producing 1/3 of the world’s beer with a market value of USD 275 Bn at current prices.
AB INBEV & other top brewers are trying to move into new markets especially in Africa & Asia through SABMILLER.

17 September 2015 / Reuters