Asia Private Equity Weekly News, March 12, 2012
HONG KONG, March 12
HONG KONG, March 12 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending March 9.
PRIVATE EQUITY-controlled Link Group, a share-registry company, is looking to raise capital for global expansion through a stake sale, with global buyout funds lining up as bidders, according to sources with knowledge of the matter.
CVC CAPITAL Partners Ltd has put Australian hotel and resort owner-operator Mantra Group up for sale, a source familiar with the matter said, an asset local media reports have estimated could fetch more than A$600 million ($636 million).
GREENPARK CAPITAL has launched a $500 million global fund to invest in private-equity secondary markets, with a $100 million cornerstone investment from International Financing Corp , the finance arm of the World Bank, according to sources familiar with the matter.
PRIVATE EQUITY firm CVC, facing heavy potential losses on its debt-laden Australian TV network Nine, plans to sell off Australia's largest ticketing agency, a source said, to help reduce debt and keep hedge funds at bay.
PRIVATE EQUITY firm Axiom Asia has raised more than $1 billion for its third Asia fund, according to two sources familiar with the matter.
THE IT services arm of Indian steel-to-oil conglomerate Essar Group is in talks to raise $500 million to $600 million through a U.S. initial public offering and the sale of a stake to private equity firms, sources familiar with the matter said.
JAPAN'S SECURITIES watchdog said that it was filing criminal complaints against medical equipment maker Olympus Corp and its former executives and outside advisers over the company's $1.7 billion accounting fraud.
SAC CAPITAL and GE Capital are in no hurry to sell their stakes in Taiwan's Cosmos Bank and would be looking for a price of at least $1.15 billion before considering any deal, according to Cosmos' chairman.
PORK DONUTS may not be palatable to Americans or Europeans, but the parent company of Dunkin' Donuts and the Baskin-Robbins ice cream chains is catering to local tastes in China, where it aims to open another 100 stores in the next two to three years.
INDIAN GROUP Himadri Chemicals is interested in bigger European peer Ruetgers Group, which is being put up for sale by private equity owner Triton.
ECON EQT Investment Pte Ltd has offered to acquire Singapore-listed China Healthcare Ltd, which owns and manages medicare centres and nursing homes in Singapore and Malaysia, valuing the firm at around S$80 million ($64 million).
GLOBAL PRIVATE equity fund Blackstone Group L.P. said it has hired Yi Luo from Carlyle Group and Edward Huang from Morgan Stanley's Asia private equity unit to fill senior positions in Asia.
INFINITY GROUP said it has invested 8 million yuan ($1.27 million) in chip producer Solorein Technology Inc through its Chengdu Shuangliu Fund.
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