TPG

Aussie competition regulator to block TPG-Vodafone merger

(May 8): Australia's competition regulator will oppose to the A$15 billion ($14.3 billion) merger between mobile phone and Internet data providers TPG and Vodafone Hutchison Australia (VHA).

Shares in TPG, which became Singapore's fourth mobile operator in 2016, and Hutchison Australia plummeted after the Australian Competition and Consumer Commission (ACCC) accidentally published the news on its mergers register on Wednesday afternoon before the market closed.

Singtel well positioned to weather competition, looking cheap at current prices: UOB Kay Hian

SINGAPORE (Mar 21): UOB Kay Hian is maintaining its “buy” call on Singtel with a target price of $3.58, while highlighting that the stock, at the price of $3.02, is currently below its mean EV/EBITDA with a 5.8% dividend yield.

In a Thursday report, analyst Chong Lee Len says she continues to like Singtel for its customer-centric offerings and diversification across the region, as well as lean cost structure.

KKR invests in Singapore energy-saving firm in first impact bet

SINGAPORE (Dec 13): KKR & Co. is buying a stake of as much as $45 million in Barghest Building Performance, a Singapore provider of energy saving solutions, in the private equity firm’s first impact investment globally.

It’s investing as part of a Series B fundraising for BBP, which helps companies throughout Asia reduce electricity consumption. The company plans to use the funds to grow its business in the region, invest in new technology and hire more staff, BBP Chief Executive Officer Poyan Rajamand said in an interview this week.

TPG's entry delayed but still remains a threat to Singapore telcos

SINGAPORE (Nov 29): Although the year is drawing to an end, TPG has yet to announce its commercial launch this year. This is despite TPG saying in September that it was on track to meet its outdoor-coverage milestones set by IMDA.

In the short term, this delay might be good for the local telcos, as it gives them more time to prepare for the competition and re-contract subscribers to new 24-month terms and protect cashflows for a longer period.

However, Maybank Kim Eng, which has a “neutral” rating on Singapore telcos, believes that this is not a long-term cure.

Temasek invests $50 mil in TPG Growth's Asia Healthcare Holdings

SINGAPORE (July 5): Temasek Holdings has invested $50 million in Asia Healthcare Holdings (AHH), the operating and investment platform founded by private investment firm TPG’s growth equity platform, TPG Growth.

The investment was made through Temasek’s wholly owned entity Sheares Healthcare, an investor and provider of healthcare delivery services.  

AHH targets investment opportunities in single-specialty healthcare businesses, with a focus on India and South Asia.

TPG-led consortium said to near deal for India’s No. 2 listed hospital chain

MUMBAI (Mar 26): A consortium led by TPG is nearing an agreement to gain control of Fortis Healthcare Ltd., India’s second-largest private hospital chain by market value, people with knowledge of the matter said.

KKR, Blackstone, RRJ and TPG dropping out of race for GLP, says FT

SINGAPORE (June 23): Almost all the potential bidders for Global Logistic Properties are dropping out as the June 30 deadline approaches, reported The Financial Times.

Private equity groups Blackstone, KKR, RRJ Capital and TPG are among those that have decided against making a comprehensive offer, people involved in the process told FT.

Fortis Healthcare said to be mulling buyout of RHT Health Trust

(March 27): Fortis Healthcare, India’s second-largest private hospital chain by market value, is weighing a buyout of the Singapore-listed business trust that owns some of its clinics, people with knowledge of the matter said.

StarHub teams up with M1 but is it too late to counter the TPG threat?

SINGAPORE (March 9): UOB KayHian has cut StarHub to “hold” and advises investors enter at $2.80 with a target price of $3.10 in mind.

The downgrade comes on worries that the telco will be more susceptible due to its larger base of 473,000 residential broadband subscribers when TPG launches its fibre broadband services as early as 2H17 as a prelude to its mobile launch.

StarHub expects TPG to launch its fibre broadband services in 2H17 as part of its branding buildup before it launches mobile services in 2H18.

China’s Mobike eyes Singapore launch after raising $309 mil in Tencent-led funding

Mobike co-founder and president Hu Weiwei

SINGAPORE (Jan 5): China’s bike-sharing start-up Mobike announced it will be launching in Singapore in 2017, following the close of its US$215 million ($309 million) Series D financing round on Thursday.

The investment was led by Chinese internet giant Tencent and American private equity firm Warburg Pincus.

Existing investors such as Sequoia China and Hillhouse Capital were joined in this fourth round of funding by new investors including travel company Ctrip, private equity firm TPG, and hotel operator Huazhu Hotels Group.

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