At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once again. Video
WASHINGTON - Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve.
WASHINGTON - Small business optimism rose to a one year-high in May, a hopeful sign for an economy that has hit a soft patch.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
KKR, TPG among firms eyeing Nasdaq-listed AsiaInfo: sources
HONG KONG/NEW YORK |
HONG KONG/NEW YORK (Reuters) - Global private equity firms, including KKR & Co LP (KKR.N) and TPG Capital TPG.UL, and strategic rivals, are lining up potential bids for U.S.-listed AsiaInfo-Linkage Inc (ASIA.O), sources with direct knowledge of the matter told Reuters, in a deal expected to be worth more than $1 billion.
Shares of the China software and IT company rose nearly 7 percent in premarket trading on Tuesday, at around $12.50.
AsiaInfo received an offer from CITIC Capital in January, financial details of which were not disclosed, and it has since appointed Goldman Sachs (GS.N) as a special adviser.
At the time of the offer, AsiaInfo, whose clients include telecom groups China Mobile (0941.HK), China Unicom (0762.HK) and China Telecom (0728.HK), had a market capitalization of $714 million -- a value that has since risen to more than $800 million[ID:nL3E8CK39U].
Shares of several U.S.-listed China companies have been battered by a series of accounting scandals that have tainted the entire sector, and private equity funds have been hunting for potential targets.
AsiaInfo was not subject to any accounting scandals, yet its shares are still down about 44 percent over the past 12 months.
CITIC has appointed Morgan Stanley (MS.N) as a buyside adviser, the sources said.
The sources said private equity funds were looking to structure a joint bid with CITIC or potentially bid solo.
Meanwhile, separate sources said bids may emerge from strategic rivals such as Amdocs (DOX.N), Oracle (ORCL.O), IBM (IBM.N) and Ericsson (ERICb.ST), who may be interested in the company's billings software.
But while AsiaInfo Linkage is not a state-owned asset, its core clients include state-owned companies, and many expect any final solution on the privatization to favor a China company.
"Most bidders expect CITIC to have some part in a final deal, since this is an important asset for China," said one banker.
No bidding deadline has been set, said the sources, who declined to be named as they were not authorized to talk to the media.
AsiaInfo-Linkage, KKR, Morgan Stanley and TPG all declined to comment. Sources were not authorized to speak with the media.
(Reporting by Stephen Aldred and Nadia Damouni; Editing by Muralikumar Anantharaman and Maureen Bavdek)
- Tweet this
- Share this
- Digg this