Asia Private Equity Weekly News, July 15, 2013

HONG KONG, July 15 Mon Jul 15, 2013 3:46am EDT

HONG KONG, July 15 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending July 12.

JULY 12

GERMAN BATHROOM fixtures maker Grohe has attracted takeover interest from Thailand's Siam Cement and Switzerland's Geberit, people familiar with the process said, in what could be Europe's largest private equity deal of the year, with the private company said to be worth around 4 billion euros ($5 billion).

THE $4 billion loan backing Chinese pork producer Shuanghui International's $4.7 billion bid for US meat processor Smithfield Foods has raised $5 billion from banks so far and could rise to $9 billion, banking sources said.

ACTIVIST INVESTOR Starboard Value LP said it hired financial advisers to explore alternative deals for Smithfield, which in late May agreed to a $4.7 billion sale to Hong Kong-based Shuanghui International.

JULY 11

PROFITS FROM China's private equity deals have fallen since 2007, a new industry report says, leading to a sharp decline in funds for small and mid-size companies in the world's second largest economy.

PRIVATE EQUITY firm KKR & Co, fresh from completing a record $6 billion Asia fund, wants to spend a significant portion of its money in Japan, the firm's head of Japan said.

GOODMAN GROUP and Canada Pension Plan Investment Board (CPPIB) said they had increased their equity allocation to Goodman China Logistics Holding (GCLH) by $500 million, with $400 million contributed by CPPIB and $100 million by Goodman, bringing the total equity allocated to GCLH to $1.5 billion.

JULY 10

A RECORD $6 billion Asia fund announced by U.S. private equity firm KKR will be deployed at a time when an economic slowdown and emerging market sell-off has knocked the overall value of Asia Pacific corporations to historic lows.

INDIA'S KEDAARA Capital, co-founded by Singapore-based sovereign fund Temasek Holdings' former India head, is set to raise about $500 million, sources with direct knowledge of the matter said, at a time when first-time funds in Asia are struggling to raise capital.

PRIVATE EQUITY investment firm HarbourVest Partners said it had raised $3.6 billion for its Dover Street VIII fund, more than originally targeted due to strong demand.

INDIA'S E-COMMERCE company Flipkart said it has raised $200 million from South African technology group Naspers Ltd and private equity funds Tiger Global and Accel Partners.

SPEEDCAST GROUP said it had raised a $55 million credit facility to finance its acquisition of satellite communications services company Pactel International, and to refinance debt held by TA Associates, SpeedCast's controlling shareholder.

JULY 8

CITI VENTURE Capital International, the private equity arm of Citigroup, is in talks to buy a majority stake in India's Sansera Engineering for about 3.4 billion rupees ($56 million), two sources with direct knowledge of the matter said.

MALAYSIA-BASED private equity firm Navis Capital said it has sold industrial valve specialist Callidus Process Solutions to Pon Holding Australia. Navis sold Callidus for around A$75 million to A$100 million, making a return of over two times on its initial 2010 investment, according to a source with knowledge of the matter.

JULY 7

FORMER STANDARD Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to buy as much as half of Britain's 20 billion pound ($29.77 billion) stake in Lloyds Banking Group , Sky News reported.

JULY 6

CARLYLE GROUP backed New Century Real Estate Investment Trust has raised HK$676 million ($87.2 million) from a trimmed Hong Kong initial public offering, after pricing the float at the bottom of the indicative range, IFR reported.

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

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