India Digest: L Catterton eyes Patanjali; Mirae Asset to enter PE; CDC fully exits Ujjivan

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L Catterton is willing to invest as much as $500 million in the Indian company, which is close to half of their remaining funds in Asia.

India: Vatika Hotels buys out Goldman Sachs’ stake worth $47m

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Goldman Sachs had invested Rs 300 crore in Vatika Hotels in the form of CCD, which later got translated into equity in 2015.


WL Ross-backed Four Rivers takes 23.5% stake in Chongqing Steel after recapitalization

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Four Rivers together with Chongqing Strategic Emerging Industry Equity Investment Fund, invested $615 million of new capital in Chongqing Steel


Bain, Silver Lake among bidders for Olympus Capital Asia’s stake in iPhone recycler

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The recycler, Li Tong, could be valued at $750 million to $1 billion in any transaction.


India: Morgan Stanley PE Asia invests $24m in health foods brand Manna

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The Chennai-based company had earlier raised Rs 30 crore from early growth investors led by Fulcrum in 2015.


CITIC Capital completes acquisition of Paris-based Axilone

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Oaktree Capital Management had put Axilone up for sale early last year.


Blackstone said to reach $1.1b deal for Maui resort with Singapore’s GIC

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The transaction would be the second-largest deal for a single hotel in the U.S.


KKR-backed Emerald Media takes controlling stake in Indian animation studio Cosmos-Maya

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The investment closely follows Emerald Media’s $65m funding in Bangkok startup aCommerce


Malaysia’s Equinas sells APIIT for $180m in KV Asia-backed management buyout

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Ekuinas had invested in APIIT in 2011, buying a 51 per cent stake from Sapura Resources Bhd and in 2016 took over the remaining 49 per cent.


Japan: J-Star Co acquires majority stake in nightlife operator Section Eight

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Along with the investment, Takayuki Yasuda, a former CEO for Komeda Co, has joined as a board member of Section Eight.