Asia Private Equity Weekly News, May 21, 2012

HONG KONG Sun May 20, 2012 9:33pm EDT

HONG KONG May 21 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending May 18.

MAY 18

THE PRIVATE EQUITY OWNERS of India's Lilliput Kidswear got a call last September, less than two weeks after an IPO plan was approved, that set off a chain of events that could wipe out their investment.

CARLYLE GROUP is in talks to sell its stake in Taiwan's Ta Chong Bank to Yuanta Financial in a deal worth up to T$37 billion ($1.25 billion), two sources familiar with the situation said.

AUSTRALIAN PRIVATE equity fund Pacific Equity Partners (PEP) has approached potential buyers for its share-registry business Link Group, kickstarting an auction that could value the company at as much as A$1.4 billion ($1.4 billion) including debt, sources said.

ASIA'S PRIVATE equity funds are moving closer to North American and European peers in key areas, but despite a tight fundraising climate they still charge higher management fees than their global peers, a new survey has found.

THE SUSPENSION of U.S. sanctions barring investment in Myanmar in response to political reforms in the poor Southeast Asian state opens the door to U.S. companies queuing to scout for business in one of the last frontier markets.

MAY 17

L CAPITAL Asia, a private equity fund backed by LVMH , said it has appointed retail industry veteran Uday Mehra as managing director.

THE PLANNED $1.5 billion listing of Malaysia's Integrated Healthcare Holdings (IHH) is expected to debut on the Malaysian and Singapore bourses by the end of July, two sources with direct knowledge of the matter told Reuters.

INDIAN DRUGMAKER Piramal Healthcare is buying U.S.-based healthcare data provider Decision Resources Group from Providence Equity Partners for $635 million to boost research and development, in the biggest outbound acquisition by an Indian company in over six months.

MAY 16

AUSTRALIA'S BRAMBLES Ltd has held discussions with document destruction company Shred-it about selling its U.S. information management business, after private equity firms did not meet its $2 billion-plus valuation expectations, according to several people familiar with the matter.

MAY 14

AUSTRALIAN UNDERWEAR manufacturer Pacific Brands said takeover talks with suitors including KKR & Co have ended without an offer being made, sending its shares down nearly 10 percent, as the dour retail outlook put off buyers.

CHINA RESOURCES Group-backed real estate investment fund Harvest Capital Partners Ltd said that its CEO, Rong Ren, who has been with the company since 2005, has resigned.

AUSTRALIA AND New Zealand auto parts supplier Exego Group Pty Ltd has signed a A$295 million loan, to refinance a loan that Unitas Capital used to complete a buyout of the company in 2006, Thomson Reuters LPC reported.