Asia Private Equity Weekly News, December 17, 2012

HONG KONG Sun Dec 16, 2012 9:04pm EST

HONG KONG Dec 17 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending Dec. 14.

DECEMBER 14

KKR & Co LP has jumped into the auction for the fibre-optics business being sold by Australian contractor Leighton Holdings Ltd, a source familiar with the process told Reuters, eyeing a business that analysts say could fetch as much as A$870 million ($918 million).

INDIAN TELECOMS tower operator Bharti Infratel's share sale to raise up to $830 million was subscribed 1.3 times, a weaker-than-hoped for response to the country's biggest initial public offering in two years.

DECEMBER 13

CREDIT RISK information provider Veda Advantage Ltd, owned by Pacific Equity Partners and Merrill Lynch Global Private Equity, signed an A$451.5 million ($476 million) three-year loan with a syndicate of 10 lenders including two fund investors, Thomson Reuters LPC reported.

DECEMBER 12

BANKS PREPARING companies for listing on Hong Kong's stock exchange will be made explicitly liable for IPO prospectuses, although they will also have more powers to ensure that their clients play by the rules, the city's market watchdog said.

FRANCO-BELGIAN group Dexia said it agreed the sale of its asset management business, a move that marks the near completion of its dismantling following its virtual collapse in the wake of the financial crisis.

CARLYLE GROUP is selling up to $67 million of its stake in Hong Kong-listed Kaisa Group Holdings Ltd, according to a term sheet seen by Reuters.

U.S. BUYOUT firm Providence Equity Partners is among suitors advancing to the second round of bidding for Leighton Holdings' Australian fibre-optic network NextGen, sources said.

DECEMBER 11

INDIA'S DEBT-LADEN Kingfisher Airlines has denied a newspaper report that it had reached an agreement on selling a 48 percent stake to Etihad Airways.

DECEMBER 10

BHARTI INFRATEL Ltd, the telecommunications tower arm of top Indian mobile carrier Bharti Airtel, said it will allot shares worth $120 million to cornerstone investors as part of its up to $832 million initial public offering.

CHAMP PRIVATE Equity, Australia's oldest buyout firm, has appointed Macquarie Capital as adviser to consider a possible sale or float of its Golding mining services company, a source familiar with the situation told Reuters.

SWITZERLAND-BASED Partners Group said it had closed a two billion euro ($2.6 billion) secondaries fund, Partners Group Secondary 2011, L.P., and the firm expects to invest more of this fund in Asia than previous funds.

GENERAL ATLANTIC LLC said it has hired Sandeep Naik, the former co-head of India for Apax, as managing director and head of the firm's Mumbai office. Naik will lead GA's investment advisory activity in India. ($1 = 0.9485 Australian dollars)($1 = 0.7628 euros)

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