Asia Private Equity Weekly News, February 17, 2014

HONG KONG, February 10 Sun Feb 16, 2014 8:40pm EST

HONG KONG, February 10 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending February 14.

FEBRUARY 14

U.S. PRIVATE equity firm Cerberus Capital Management LP has sold a 1,900 square metre block of land in Tokyo's posh Aoyama shopping district to Japanese general contractor Shimizu Corp for 13 billion yen ($127 million) as the U.S. investment fund tries to recoup gains from its Japanese assets.

MBK PARTNERS' software company Yayoi Company Ltd is seeking a refinancing to take advantage of strong liquidity in the Japanese loan market, a year after completing a 29 billion yen deal, Basis Point reported.

CHINA'S SOVEREIGN fund, China Investment Corp, confirmed on Friday it has appointed Li Keping as vice chairman and president to replace Gao Xiqing who is due to retire.

SINGAPORE SOVEREIGN fund GIC has cut its stake in commodities trader Bunge Ltd to 1.73 percent from 4.99 percent a year earlier, according to a U.S. regulatory filing.

THE CANADA Pension Plan Investment Board, one of the world's biggest pension funds, notched another quarter of strong returns but its chief executive officer said he wishes the fund had been more aggressive when prices were cheap.

FEBRUARY 13

PRIVATE EQUITY-backed online cosmetics retailer Jumei.com hired Credit Suisse and Goldman Sachs to manage an up to $600 million initial public offering in the United States, joining other Chinese firms queueing to raise funds there as technology company valuations soar.

FEBRUARY 12

CHINESE BUYOUT firm Hony Capital is in advanced talks to join Baring Private Equity Asia consortium's $2.8 billion bid for online gaming company Giant Interactive Group Inc, two people with knowledge of the matter told Reuters.

THE LEVERAGED buyout financing backing the proposed delisting of Giant Interactive is expected to be around $800 million to $850 million, reduced from about $1 billion, Basis Point reported citing sources.

A RARE sale of a stake in Alibaba Group Holding values China's dominant e-commerce company at around $128 billion, Reuters calculations show.

INDIA'S PIRAMAL Enterprises Ltd said it will join with Canada Pension Plan Investment Board to set up a $500 million fund to finance residential property projects in India.

FEBRUARY 11

GLOBAL A&T Electronics (GATE) bondholders, including investors such as Blackstone and Farallon, have filed a lawsuit against the company seeking the reversal of a debt swap that allowed higher priority to junior noteholders.

DEALTALK-CHINESE companies are flocking to the U.S. IPO market in their biggest numbers since 2010, drawn by soaring valuations for tech start-ups and undeterred by a flare-up in an accounting row between Washington and Beijing.

RRJ CAPITAL, founded by former Goldman Sachs banker and Hopu dealmaker Richard Ong, plans to invest 1.5 billion yuan ($248 million) in Shanghai Bright Holstan Co, a unit of Bright Dairy & Food Co Ltd.

FEBRUARY 10

ALIBABA OFFERED to buy AutoNavi Holdings Ltd in a deal valuing the Chinese digital mapping and navigation firm at $1.58 billion.

CARLYLE GROUP said it had sold its majority stake in India-based security company Cyberoam Technologies Private Limited to IT security company Sophos for an unspecified amount. Local media reported that Carlyle sold an 80 percent stake for 5 billion rupees ($80.5 million). ()

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