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Weekly Asia News (Friday)

Two fingers

Moore Group appoints two new regional heads

Moore Group has appointed new heads of Europe and Asia to focus its services regionally. Jon Trigg has been promoted to European head of fund services and Jean-Francois Minier Asia head of fund services.   Trigg’s promotion comes six months after the private equity specialist joined Moore as a director.

Stability

U-Boat Worx forms partnership with Exa Limited

U-Boat Worx has partnered with Exa Limited, a company owned by entrepreneur Tan Sri Lim Kok Thay who spearheads the Asian conglomerate Genting Group. The partnership is aimed at advancing U-Boat Worx’ growth path in the coming years, which includes increased production capacity, reduction of delivery times, and improvement of

China Flag

CG represents buyers group in Trunkbow going-private transaction

Cleary Gottlieb is representing the buyer group, consisting of Dr Wanchun Hou, chairman of the board of directors, and Qiang Li, chief executive officer, in the going-private transaction of Trunkbow International Holdings Limited.  The merger agreement was executed and announced on 10 December 2013.    The merger will be financed

India flag

Actis exits Sterling Hospital

Actis, the pan-emerging markets investor, is to sell its majority shareholding investment in Sterling Hospital, a healthcare provider in Gujarat. Actis invested in the Indian healthcare chain in 2006. Its goal was to build a high quality regional business providing sophisticated medical services including oncology, neurosurgery and transplant surgery to

Alkhabeer Capital acquires majority shareholding in UAE-based Express Group

Alkhabeer Capital has acquired a majority shareholding in Express Publishing and Investment Limited. The acquisition marks Alkhabeer Capital Private Equity’s second transaction in the UAE’s industrial sector.   Alkhabeer Capital aims to expand the value of its private equity investments through facilitating and leading the growth of its portfolio companies

Abraaj completes 15 exits in 2013

Growth market investor The Abraaj Group has completed 15 exits through its funds in 2013. The most recent deals include:   • The sale of Abraaj’s 50 per cent shareholding in Turkish health insurance company Acıbadem SaÄŸlıkve Hayat Sigorta to Khazanah Nasional Berhad, the Government of Malaysia's strategic investment fund; • Abraaj’s

Wind farm

SDCL Asia to launch USD200m UK China Energy Efficiency Investments Fund

SDCL Asia is to launch the UK China Energy Efficiency Investments Fund, which will seek to invest up to USD200m in energy efficiency projects and opportunities.  Energy efficiency is one of the fastest growing investment markets in the world, driven by severe energy supply constraints, rising prices and the opportunity

KKR acquires minority stake in Gland Pharma

KKR is to acquire a minority stake in Gland Pharma, an Indian pure-play generic injectable pharmaceutical products company, for approximately USD200m. This includes KKR acquiring the entire stake held by Evolvence India Life Sciences Fund (EILSF), an existing private equity investor in Gland Pharma.   Established in 1978 and based

Israel

INE Ventures launches fund to invest in Israeli tech start-ups

INE Ventures has launched INE Ventures Fund I, which will co-invest seed capital in Israeli technology start-ups with a selection of trusted venture capital partners. Portfolio company founders will relocate to Philadelphia and New York City to help them penetrate the US market and turn into growing multinational companies.  

Shareholders elect Hirochika Iwadare to CLS Group board of directors

Shareholders of CLS Group elected Hirochika Iwadare to the board of directors at an extraordinary general meeting of shareholders held earlier this month.  Iwadare, located in Tokyo, is general manager of the global markets trading division at The Bank of Tokyo Mitsubishi UFJ.   Prior to his current role, Iwadare

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