Engineering & Cleantech – Latest

ENGINEERING & CLEANTECH

Renewable Energy

METRO PACIFIC INVESTMENTS CORP (PH) buys 25% of BEACON ELECTRIC ASSET HOLDINGS (PH) for USD 540 M

PLDT, a communications and energy venture firm, and MPIC currently owns equal share of BEACON ELECTRIC. The funds collected by PLDT after the sale of the investment vehicle will pay a portion of the acquisition of SAN MIGUEL CORP (SMC)

31 May 2016 / PhilStar Global

DEMETER CORPORATION, DCORP (TH) will spend USD 15.36 M to purchase 40% stake in 2 power plants

The power plants that are located in the Philippines will help DCORP meet the volume requirements outlined in their Memorandum of Understanding (MoU). DCORP is underway to diversify its Core Media Business into renewable energy and have existing Joint Ventures with solar power manufacturing giant, YINGLI GREEN ENERGY HOLDING CO (TH) .

3 June 2016 / Deal Street Asia

Filipino Investment company METRO PACIFIC INVESTMENTS COR (MPIC) acquires 65% of ECO-SYSTEMS TECHNOLOGIES INTNERNATIONAL INC (ESTI) for USD 39 M

The acquisition of the environmental technology solution provider will give MPIC the entry into the wastewater treatment business. Currently, ESTI services major property developers and is the market leader in the Filipino wastewater industry, giving MPIC the front foot into the industry.

17 June 2016 / Deal Street Asia

Power Sector investors CLP INDIA PTE LTD buys 49% of SUZLON ENERGY (IN)

CLP INDIA took their first step into the solar energy sector with an USD 11 M purchase of the solar wind unit of SUZLON ENERGY. CLP will look to acquire the remaining 51% after a year of operations as per the power purchase agreement (PPA).

20 June 2016 / Economic Times


Engineering & Construction

Gold exploration, mining and production ANCHOR RESOURCES (SG) acquires GCT MANUFACTURING (MY)

For a deal of USD 78 M, ANCHOR aims to diversify their revenue streams and acquire various concession areas for mining as well as granite cutting facilities from GCT. Anchor is also looking to diversify its services into the granite and stone business to create more value for their customers.

28 June 2016 / The Edge Markets

Thai Tile maker, THE UNION MOSAIC INDUSTRY PCL (UMI) sells 10.6% of THE ROYAL CERAMIC INDUSTRY PCL (RCI) for USD 2.76 M

Funds raised will be used by UMI to ramp up its capacity and meet working capital demands. This was instigated by poor financial performance by RCI, reporting a net loss of USD 2 M last year.

EV/EBITDA: 0.7x

3 June 2016 / Deal Street Asia

HDFC ERGO GENERAL INSURANCE CO LTD (DE) will acquire L&T GENERAL INSURANCE CO LTD (IN) for USD 82 M

L&T GENERAL INSURANCE is part of India’s largest engineering and construction company. The acquisition will allow for L&T GENERAL INSURANCE to leave this non-core business segment behind. The move was done to pare its debt and reignite its performance by focusing on the higher profit generating segments.

4 June 2016 / ECONOMIC TIMES

EXCEL CROP CARE (IN) has received and open offer by SUMITOMO CHEMICAL GROUP (JP) of an additional 30% stake for USD 63 M.

This acquisition is part of SUMITOMO CHEMICAL’s plan to have 75% of EXCEL CROP CARE’s shares. Being the 5th largest in revenue in India, the agrochemical company will provide a strong stepping-stone for SUMITOMO CHEMICALS business and distribution channels.

6 June 2016 / Economic Times

OLAM INTERNATIONAL (SG) acquires the final 50% of ACACIA INVESTMENTS (SG)

The Edible Oils Refining and Distribution Company will now be a wholly owned subsidiary of the Agribusiness Conglomerate, OLAM INTERNATIONAL. The USD 24 M transaction is against the backdrop of high growth potential in the crude palm oil (CAGR 7.5%).

6 June 2016 / Business Times

OLAM INTERNATIONAL (SG) acquires ALABAMA’s Brooks Peanut Co (Brooks) for USD 85 M

The acquisition of the peanut shelter is the second of its kind after the 2014 acquisition of McCleskey Mills Inc (US). The Singapore Listed Agri-Business company plans to integrate direct farm procurement into their supply chain.

Est. EV/SALES: 4.3x

8 June 2016 / Reuters

Indian Crop protection, chemical and seeds company UPL LIMITED acquires 26% of WEATHER RISK MANAGEMENT SERVICES (IN) for USD 1.5 M

WRMS will now be able to assist UPL’s core services in precision fanning and other farming solutions. UPL would also be able to synergise WRMS’ technological platforms to foster stronger relationships with their customers.

15 June 2015 / Economic Times

Japanese Logistics giant NIPPON EXPRESS to buy 43% of TVS LOGSITICS SERVICES (IN).

Valuing TVS LOGISTICS at USD 570 M, the deal will be priced in at USD 245 M. In a strategic move to increase its clout in South Asia, NIPPON EXPRESS plans to solidify its presence in India, the region’s largest economy.

15 June 2016 / LiveMint

Indian electronic giant CENTUM ELECTRONIC buys 51% stake in ADETEL GROUP (FR)

Engaged in services like Defence and Aerospace, the acquisition will allow CENTUM ELECTRONICS to grow in the geographical regions familiar to ADETEL. Furthermore, they will also be able to tap on the advanced technology ADETEL has developed to accelerate their growth.

18 June 2016 / Economic times

iGROW (ID) secures funds for international expansion

The Indonesia crop investment platform will use the funds led by EAST VENTURES and 500 STARTUPS to expand to Turkey and Japan. Currently iGROW are in discussions with strategic investors in Japan as well as taking advantage of the benevolent conditions in Turkey. Details of the transaction were not disclosed.

24 June 2016 / Tech In Asia

MIDEA GROUP acquires Italian air conditioner maker CLIVET SpA

China’s biggest appliance manufacturer will acquire 80% of CLIVET SpA. Though details of the transaction were not disclosed, it is expected that it would be completed by this year. The acquisition would create synergies in their products, market presence, supply chain and manufacturing.

24 June 2016 / Bloomberg


Telecommunications

PLDT (PH) and GLOBE TELECOM INC (PH) each acquired 50% of SAN MIGUEL CORP (PH)

The two telecommunications companies acquired SMC’s diversified conglomerate’s telco’s asset, in efforts to improve their services in their competitive landscape, as more foreign companies enter the market. The deals were made via a Sales and Purchase Agreement.

EV: USD 1.5 B

30 May 2016 / Deal Street Asia

Singapore’s sovereign wealth fund GIC will be acquiring Telecoms group EIR (IE) for USD 3.7 B

The largest telecommunications provider in Ireland reported revenue of USD 1.5 B and earnings of USD 544 M for FY2015 after coming out of its bankruptcy in 2012. Many expect this acquisition by the GIC to be a pre-IPO financing round, given that the profitability of its landline, mobile and nascent TV services are coming around.

EV/SALES: 2.5x

10 June / Straits Times

VOCUS COMMUNICATIONS (AUS) buys NEXTGEN NETWORKS for market share

In a deal worth USD 640 M, VOCUS (Rev FY2015: 20 M) intends to capture a larger market share and narrow the gap between market leader TELSTRA CORP. The telecom’s company will acquire NEXTGEN’s networks, which includes 17,000 KM of cables to build a fully integrated network in multiple cities.

29 June 2016 / Australian Financial Review