Asia Private Equity Weekly News, March 25, 2013

HONG KONG, March 25 Sun Mar 24, 2013 11:16pm EDT

HONG KONG, March 25 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending March 22.

MARCH 22

CVC CAPITAL Partners and PT Multipolar Tbk raised around $1.3 billion by selling part of their stake in Indonesian retail giant PT Matahari Department Store , sources said, underlining the profit potential for private equity firms in fast-growing Southeast Asian markets.

PT MULTIPOLAR, an Indonesian investment holding company, jumped as much as 9 percent following the stake sale in its retail division PT Matahari.

THE LOCAL government in Suntech Power Holdings Co Ltd's home town is seeking to bail out China's biggest solar panel maker to stave off its collapse, a person with knowledge of the matter told Reuters on Thursday.

THE VALUE of announced mergers and acquisitions for the first quarter in the Asia-Pacific region excluding Japan fell 26.6 percent from a year ago to $79.5 billion, making it the slowest start to a year since 2009, preliminary data released by Thomson Reuters showed.

JAPAN'S RENESAS Electronics Corp is in talks with foreign companies about selling the mobile phone chip business it bought from Nokia Oyj three years ago, the company's new president said.

AUTOMOTIVE INDUSTRY systems supplier Broadleaf, acquired by Carlyle Group in 2009, returned to the Tokyo Stock Exchange and closed the day at 1,480 yen per share, up 37 percent from where the 20.3 billion yen ($213.56 million) IPO priced on March 12, IFR reported.

MARCH 21

CHINA-BASED ReneSola Ltd received a 320 million Chinese yuan ($50.9 million) loan from China Development Bank Corp, in the latest instance of the Asian country's support for heavily-indebted solar companies.

TROUBLED AUSTRALIAN surfwear firm Billabong International Ltd said it remains in talks with two groups weighing $544 million bids for the company -- a statement that comes after the company's shares plunged to a record low.

STANDARD CHARTERED Private Equity raised HK$386 million ($49.7 million) from the sale of its entire interest of 193 million shares in Huaneng Renewables Corp, IFR reported.

GLOBAL PRIVATE equity firm Harbourvest Partners has hired former RBS banker Alun Lewis as a principal based in Hong Kong, as it looks to expand into investing in Australian leveraged loans, Basis Point reported.

MARCH 20

A GROUP of lenders filed a petition for the main subsidiary of China-based solar panel maker Suntech to be declared insolvent, a sign the country's support for the loss-making industry may be waning.

SHARES IN Australian engineering firm Bradken Ltd dropped almost 5 percent after a court ruled against the company in a landmark "bid rigging" case involving the sale of a Canadian mining services company.

HONG KONG private equity firm AID Partners Capital, which recently bought British music and video retailer HMV's Hong Kong and Singapore operations, said it has formed a China joint venture with Prime Focus Ltd to focus on entertainment services for motion pictures in Greater China.

STANDARD CHARTERED Bank has hired Nomura's head of mergers and acquisitions for Southeast Asia, Jason Morris, to join its regional M&A team as a managing director, two sources with direct knowledge of the matter said.

MARCH 19

LUNAR CAPITAL, a China consumer-focused private equity firm, said it has made several new hires including Vincent Sun, a former general manager of Parker Pens, who will work as the firm's sector partner for high-end branded products.

MARCH 18

U.S.-LISTED China firm Ambow Education Holding Ltd said it had received a proposal to go private from Baring Private Equity Asia, offering $1.46 for each American Depositary Share (each ADS represents two Class A ordinary shares) and $0.73 for each Class A and Class B ordinary share of the company.

MATERNITY, INFANT and kids clothing company Guangdong Aiyingdao Children Department Store Co Ltd and Standard Chartered Private Equity (SCPE) said that SCPE will invest an undisclosed amount in Aiyingdao, which has more than 230 directly operated stores in Southern, Eastern and Central China. ($1 = 7.7622 Hong Kong dollars)($1 = 95.0550 Japanese yen)