Asia Private Equity Weekly News, Jan 14, 2013

HONG KONG Sun Jan 13, 2013 8:38pm EST

HONG KONG Jan 14 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending January 11.

JAN. 11

PRIVATE EQUITY firms including Singapore state investor Temasek Holdings and KKR & Co are separately in advanced talks to buy Warburg Pincus LLC's majority stake in Indian tyre maker Alliance Tire Group for about $400 million, three sources with direct knowledge of the matter said.

JAN. 10

CHINA'S INSURANCE regulator is seeking more information from Ping An Insurance after reviewing HSBC's planned sale of its $9.4 billion stake in China's No.2 insurer to Thailand's CP Group.

PRIVATE EQUITY firm CVC is in exclusive talks to buy a majority stake in SPi Global Holdings, a business outsourcing unit of Philippine Long Distance Telephone Co , for about $320 million including debt, a source familiar with the matter told Reuters.

THE $1.525 BILLION financing backing the $3.7 billion buyout of Nasdaq-listed Chinese display advertising company Focus Media Holding Ltd has been launched to senior syndication, Thomson Reuters Basis Point reported, citing sources.

JAN. 9

KKR HAS invested an additional $200 million in Vietnam's noodle and fish sauce retailer Masan Consumer Corp in the largest single private-equity investment in the Southeast Asian country.

CHINA, UNDER pressure to improve the quality of its IPOs, will tell underwriters and auditors of companies looking to list on mainland markets to review their financial statements and ensure that all is in order, sources with knowledge of the plan said.

SHARES IN United Envirotech Ltd jumped as much as 14.6 percent to their highest in eight years, after KKR agreed to make a $40 million follow-on investment in the China-focused water treatment and recycling company.

EMERGING MARKETS-focused private equity firm Actis Capital said it had acquired a significant minority stake in China medical equipment maker Nanjing Micro-Tech, but did not disclose further details.

INDUSTRIAL & COMMERCIAL Bank of China Shanghai is arranging a four-year $482 million-equivalent loan for TPG Capital's UniTrust Finance & Leasing Corp, Thomson Reuters Basis Point reported, citing sources.

JAN. 8

BLACKSTONE GROUP said it had hired Gautam Banerjee as its Singapore chairman and to join its international advisory board. Banerjee is the former executive chairman of PricewaterhouseCoopers Singapore.

CARLYLE GROUP sold its remaining stake in China's No.3 insurer CPIC in a deal valued at $793 million, exiting the business with its largest dollar profit on an investment.

HSBC's SALE of its $9.4 billion stake in Ping An Insurance to Thailand's CP Group has been thrown into jeopardy after state-run China Development Bank voiced concerns over funding for the deal, sources told Reuters.

MALAYSIA-BASED private equity firm Navis Capital Partners, which has over $3 billion in assets under management, said it has completed an investment through Panga Hold Co Pte Ltd into Vietnamese seafood processing company Go Dang Joint Stock Co, but did not give further details.

JAN. 7

CERBERUS CAPITAL Management LP plans to sell up to 148 billion yen ($1.7 billion) of shares in Aozora Bank Ltd in a global offering that the Japanese bank said would cut the U.S. buyout firm's stake to 7.7 percent from 58 percent.

JAN. 4

PROVIDENCE EQUITY Partners-backed Hong Kong broadcaster TVB is seeking a High Court review that could delay or block new free-to-air licences for three rival firms, local Hong Kong media reported.

JAN. 3

NAVIS CAPITAL said that, together with Rabo Capital N.V., it had sold Thai duck processor Bangkok Ranch and its Dutch subsidiary Duck To Holdings for Baht 5.7 billion ($188.24 million), with the two investors netting around 1.9 times their initial investment.

DEC. 31

CHINA PLANS to allow eligible securities houses and insurers' asset management units to develop and manage mutual funds in a bid to reinvigorate an industry struggling to produce returns for investors.

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