Asia Private Equity Weekly News, December 3, 2012

HONG KONG Sun Dec 2, 2012 8:13pm EST

HONG KONG Dec 3 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending November 30.

NOVEMBER 30

ONTARIO TEACHERS' Pension Plan, a leading Canadian pension fund, plans to open its first Asia office next year in Hong Kong, with as many as 10 staff, a source with knowledge of the matter said, as it targets higher returns from direct investments in the region.

BHARTI INFRATEL Ltd, the telecommunications tower unit of top Indian phone carrier Bharti Airtel Ltd, is set to raise up to $825 million next month in what would be the country's biggest initial share offering in two years.

OAKTREE CAPITAL Management-backed Fusheng Industrial has acquired German air compressor maker ALMiG Kompressoren GmbH, Fusheng and ALMiG said. The two firms did not disclose terms of the deal.

CHINESE STATE-owned insurer PICC Group raised $3.1 billion in Hong Kong's biggest initial public offering in two years after pricing the deal near the bottom of an indicative range, the latest sign of a tepid appetite for new listings in much of Asia.

NOVEMBER 28

ANAND BALASUBRAHMANYAN, the former Carlyle Group Southeast Asia head, has joined CIMB Group Holdings, where he will have responsibility for the Malaysian bank's private equity products, sources said.

INVENTIS INVESTMENT Holdings (China) Ltd, one of China's oldest private equity firms, hopes it can succeed where the country's state-owned giants have failed in buying stakes in North American energy companies, the company's CEO told Reuters.

HONG KONG brokerage CLSA is selling its stake in India's Apollo Hospitals Enterprises Ltd for $135 million, a source with direct knowledge of the matter said.

GOLDMAN SACHS Principal Investment Area launched an up to $262 million selldown in Chinese automaker Geely Automobile in an indicative range of HK$3.30 ($0.43) to HK$3.40 each, Thomson Reuters publication IFR said.

BAIN CAPITAL is selling HK$540 million ($69 million) of Sunac China Holdings, with Goldman and UBS as joint bookrunners, IFR reported.

NOVEMBER 27

GUIDANCE FOR Carlyle Group's 10.63 billion yen ($129.3 million) IPO of Japanese pub restaurant chain Chimney Group was set at 1,000-1,050 yen, mostly below the 1,040 yen indicative price, with pricing scheduled for Dec. 5, IFR reported.

SARATOGA CAPITAL and Provident subsidiary Karya Investments raised 1.2 trillion Indonesian rupiah ($125 million) from a block trade in Indonesian telecom tower operator Tower Bersama Infrastructure, with strong demand from U.S. long-only investors increasing the trade from an initial $75 million equivalent, IFR reported.

NOVEMBER 26

U.S. LISTED China meat processor Zhongpin Inc's shares rose 16 percent after the company said it entered into a merger agreement with Golden Bridge Holdings, backed by $85 million equity from private equity firm ZT China Wealth Management and a $320 million loan from China Development Bank .

ACCOUNTING SOFTWARE firm MYOB, the sole Australian investment of U.S. private equity firm Bain Capital, said on Monday it plans to offer A$125 million ($131 million) in five-year subordinated notes to help pay down debt and pay a return to its owner.

JAPAN'S GOVERNMENT Pension Investment Fund, the world's biggest public pension fund, said it has selected four companies to conduct feasibility studies for its possible future investments in alternative assets, including private equity.

A UNIT of family-owned Indian conglomerate Hinduja Group has hired Deutsche Bank to evaluate the potential sale of its 49-percent stake in a Saudi Arabian lubricants venture that is valued at up to $700 million, three sources said.

NOVEMBER 25

CARD PROCESSOR Network International, which is owned by Abraaj Capital and Dubai's largest bank, Emirates NBD, said it has bought a majority stake in an online remittance firm held by a unit of India's biggest media group.

ASTON MARTIN stands at the centre of an international takeover battle after Indian motors group Mahindra trumped an Italian bid for half of the British luxury car maker. ($1 = 82.2250 Japanese yen)($1 = 7.7500 Hong Kong dollars)

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