Asia Private Equity Weekly News, April 8, 2013

HONG KONG, April 8 Mon Apr 8, 2013 5:43am EDT

HONG KONG, April 8 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending April 5.

APRIL 5

THE MYSTERY lender behind a Thai billionaire' s $9.4 billion purchase of a stake in China's No.2 insurer was UBS, which offered the region's fourth-largest bridge loan ever and a complex financing package known to only a few involved, people with knowledge of the matter told Reuters.

CERBERUS CAPITAL Management LP will try to increase its stake in Japan's Seibu Holdings to 44.7 percent from 32.4 percent and proposed eight members to the board, stepping up a battle with the railway and real estate group's management.

INDONESIAN AIRLINE PT Mandala Airlines plans to buy 18 Airbus A320 planes worth $1.6 billion by 2014, in an effort to capture growing middle class travel in Southeast Asia's largest economy, its major shareholder said.

APRIL 3

A MAJOR shareholder in Japan's Seibu Holdings Inc has supported the company's stand against allowing private equity firm Cerberus Capital Management LP to increase its stake in the railway and real estate group, the Nikkei daily said.

APRIL 2

INDONESIAN PRIVATE equity firm PT Saratoga Investama Sedaya has picked UBS and Deutsche Bank to lead its initial public offering, aiming to raise at least $200 million in the second quarter, sources with direct knowledge of the matter said.

TROUBLED AUSTRALIAN surfwear firm Billabong International Ltd said it is still in talks with two takeover suitors and requested a trading halt in its shares ahead of a possible announcement this week.

PENNAR INDUSTRIES Ltd said India-focused private equity firm Zephyr Peacock has invested 500 million rupees ($9.21 million) to buy a significant minority stake in its unit PEBS Pennar.

APRIL 1

TAIWAN WILL ease rules to allow Chinese banks to buy bigger stakes in local banks and permit more Chinese firms to invest in its financial industry, the island's financial regulator said on Monday, marking a major advance in cross-strait ties.

SHARES IN PT Visi Media Asia Tbk, controlled by the politically connected Bakrie family, jumped as much as 20.4 percent on Monday after the company received takeover proposal from Indonesia-based CT Corp.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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