Asia Private Equity Weekly News, March 11
HONG KONG, March 11 |
HONG KONG, March 11 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending March 8.
EXCLUSIVE-CVC Capital Partners has secured about $200 million in initial pledges from cornerstone investors, including Och-Ziff Capital Management Group LLC and asset manager Schroders, for its up to $1.5 billion share offer in Indonesian retailer PT Matahari Department Store, sources with direct knowledge of the matter said.
KKR & CO LP, Carlyle Group LP, Bain Capital and other private equity firms urged Japan's government on Friday to shrink the role of state-backed funds, saying they could squeeze out opportunities for private capital and delay restructuring for troubled companies.
CHINA CITIC Bank and Hang Seng Bank have joined the $1.525 billion financing backing the around $3.7 billion buyout of Nasdaq-listed Chinese display advertising company Focus Media Holding, Basis Point reported citing sources.
U.S. PRIVATE equity firms Blackstone Group LP and TPG Capital placed separate final bids for Australia's largest poultry producer, Inghams Chicken, sources with direct knowledge of the matter told Reuters.
MAPLETREE GREATER China Commercial Trust rose as much as 10.2 percent in its debut, underscoring demand from yield-hungry investors after the Temasek-backed trust raised $1.3 billion in Singapore's biggest REIT offering.
EXXON MOBIL Corp has launched an auction to sell up to $2 billion worth of shares in a Hong Kong power venture after a year-long effort to offload its holding to its partner yielded no result, sources familiar with the matter said.
INDIA'S BHARTI Airtel Ltd is looking to sell up to a quarter of its satellite TV services arm and is in talks with several potential suitors, two sources with direct knowledge of the situation said.
GOLDMAN SACHS Group Inc. has hired Morgan Stanley's Asia investment banking head Kate Richdale, the most senior banker in the region to switch firms so far this year.
THE SALE of ING Groep's South Korean unit is set to be revived after private equity-backed Tong Yang Life Insurance Co Ltd said it was considering whether to buy the business, which is valued at about $2.1 billion.
CHINESE INTERNET portal Sohu.com Inc denied a media report that the company is talking to investment banks and private equity funds about a possible plan to take the company private. Sohu also said it has no plans to delist its common stock from the Nasdaq.
PARTNERS GROUP said it had closed a 680 million euro ($882.74 million) global fund to invest in direct, secondary and primary private equity, as well as mezzanine.
U.S.-LISTED infant formula and milk powder maker Feihe International has agreed to be taken private by the company's chairman and CEO, and Morgan Stanley Private Equity Asia for about $147 million.
KKR HAS expanded its team in Japan ahead of closing its new $6 billion pan-Asia fund with specialist hires from Goldman Sachs Group Inc and consultancy firm McKinsey & Co.
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