Ice Bear Inks Backing from Baird Capital
May 21, 2012
Baird Capital Partners Asia , CCI , and CCI’s portfolio company Great Dane have put an undisclosed amount into China’s Henan Bingxiong Refrigerated Truck Co. , known as Ice Bear . The capital will support the expansion of Ice Bear’s manufacturing facilities in Henan and Shanghai, the company said. Established in 1993, Ice Bear manufactures insulated and refrigerated trucks designed to carry perishable freight at specific temperatures. PRESS RELEASE Henan Bingxiong Refrigerated Truck Co., Ltd (Ice Bear), announced today it has raised a new round of financing led by Baird Capital Partners Asia, CCI, and CCI’s portfolio company Great Dane, a 110-year old manufacturer of dry van, platform and refrigerated trailers and refrigerated truck bodies. The capital will support the expansion of Ice Bear’s manufacturing facilities in Henan and Shanghai, as well as the company’s growing domestic customer base. As part of the investment, Ice Bear will leverage Great Dane’s global operating resources and engineering talent to grow its leading market position in the domestic Chinese market
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Ice Bear Inks Backing from Baird Capital
Asahi Group Unhappy with Independent Liquor Deal
May 21, 2012
Japan’s Asahi Group Holdings may seek compensation for its purchase last year of New Zealand beverages group Independent Liquor from two private equity firms and is “asking questions” about the amount it paid, Reuters reported Monday. Asahi bought the Auckland-based company – which makes and distributes alcoholic drinks including Vodka Cruiser and Woodstock Bourbon – from private equity groups Unitas and Pacific Equity Partners (PEP) for $1.27 billion. ( Reuters ) – Japan’s Asahi Group Holdings may seek compensation for its purchase last year of New Zealand beverages group Independent Liquor from two private equity firms and is “asking questions” about the amount it paid, a newspaper report said on Monday.
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Asahi Group Unhappy with Independent Liquor Deal
London-based Quipper Inks $3.6M
May 21, 2012
London-based Quipper , maker of quiz applications, has raised £2.3m ($3.6m) in Series A funding. Investors include Atomico , Japanese venture firm Globis , and Japanese education and publishing company Benesse . Globis led the funding round. Quipper was formed in 2010
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London-based Quipper Inks $3.6M
Alibaba in Talks to Raise $2.3B
May 21, 2012
Chinese Internet firm Alibaba Group is in talks with existing shareholders, including Singapore state investor Temasek Holdings , to raise about $2.3 billion in equity to partly finance its deal with Yahoo Inc., Reuters reported. Entrepreneur Jack Ma is buying back up to half of a 40% stake in his Alibaba Group from Yahoo for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing. ( Reuters ) – Chinese Internet firm Alibaba Group is in talks with existing shareholders, including Singapore state investor Temasek Holdings, to raise about $2.3 billion in equity to partly finance its deal with Yahoo Inc., two sources said. ? Entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing.
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Alibaba in Talks to Raise $2.3B
Alstin Backs Chinese E-Commerce Platform
May 21, 2012
Alstin , the investment company of German entrepreneur Carsten Maschmeyer has made an undisclosed single-digit million Euro investment into the Chinese E-commerce platform 88tc88 . Alstin now holds a significant equity stake in the company which is headquartered in Berlin and Beijing. PRESS RELEASE ALSTIN, the investment company of German entrepreneur Carsten Maschmeyer makes a single-digit million Euro investment into the Chinese E-commerce platform 88tc88. Following a successful capital raise, ALSTIN holds a significant equity stake in the fast-growing company headquartered in Berlin and Beijing.
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Alstin Backs Chinese E-Commerce Platform
Reuters – Nordic Capital Buys into Danish Sporting Goods
May 21, 2012
Private equity group Nordic Capital has bought Sport-Master , a Danish sporting goods chain, writes Reuters . No details were provided on the value of the deal. Reuters – Private equity group Nordic Capital said on Monday it has bought Sport-Master, Denmark’s largest sporting goods chain, continuing a string of recent deals in the region’s buoyant buyout market. Nordic Capital said in a statement that Sport-Master, which has 100 shops in Denmark and 1,000 employees, had benefited from growing consumer demand for sportswear and equipment and had seen continued growth despite tough economic conditions.
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Reuters – Nordic Capital Buys into Danish Sporting Goods
ElexoPharm Bags Eurostars Grant
May 21, 2012
ElexoPharm , a German biotech company headquartered in Saarbrücken and founded as a spin-off of the Department of Pharmaceutical and Medicinal Chemistry of Saarland University headed by Professor Rolf Hartmann has secured a eurostars grant of 2.1 million euros ($2.7 million). The grant, which comes from the German Federal Ministry of Education and Research , will support a scientific collaboration to discover treatments for mitochondrial diseases with unmet medical need (approximately 300,000 patients in industrialized countries). PRESS RELEASE A EUROSTARS grant of 2.1 million euros ($2.7 million) has been awarded to a transnational consortium consisting of Khondrion BV (Nijmegen), Radboud University Nijmegen Medical Centre (RUNMC, Nijmegen), Pharmacelsus GmbH (Saarbruecken) and ElexoPharm GmbH (Saarbruecken). This grant, which for the German partners comes from the German Federal Ministry of Education and Research (BMBF), will support an ambitious scientific collaboration to discover treatments for mitochondrial diseases with high unmet medical need (approximately 300,000 patients in industrialized countries).
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ElexoPharm Bags Eurostars Grant
Reuters – Bidders Unveiled for ING Asia
May 21, 2012
Manulife Financial Corp and Metlife are among the companies that have submitted first round bids for ING ‘s entire Asia life insurance business, sources said on Saturday, in what could be the largest Asia M&A insurance deal ever, writes Reuters . US private equity fund J.C. Flowers & Co , TPG and Carlyle Group are among the buyout shops that have expressed interest, though they are expected to team up with a bidder to buy the Japanese business rather than bid on their own, writes Reuters .
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Reuters – Bidders Unveiled for ING Asia
Reuters – Wanda Acquires AMC Movies
May 21, 2012
Chinese conglomerate Dalian Wanda Group has agreed to buy movie chain AMC Entertainment for $2.6 billion, including debt, writes Reuters . AMC is owned by an investment group that includes Bain Capital , CCMP Capital Advisors and Spectrum Equity Capital . Reuters – Chinese conglomerate Dalian Wanda Group agreed to buy AMC Entertainment for $2.6 billion, including debt, making it the biggest theatre operator in the United States. The deal, the largest overseas acquisition by a privately held Chinese company, reflects the warming ties between the U.S. and Chinese movie industries after China agreed in February to open its cinemas to more American films
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Reuters – Wanda Acquires AMC Movies
Reuters – CVC’s Formula One Starts Pre-Marketing for Singapore IPO
May 21, 2012
Motor racing business Formula One will start pre-marketing for its up to $3 billion Singapore initial public offering, writes Reuters . Formula One, which holds 20 races around the world and has a more than 500 million television viewers, is controlled by private equity firm CVC Capital Partners , with a 63.4 percent stake. CVC plans to reduce its stake as part of the IPO along with other shareholders, writes Reuters .
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Reuters – CVC’s Formula One Starts Pre-Marketing for Singapore IPO
