Asia Private Equity Weekly News, Aug 11, 2014

Sun Aug 10, 2014 8:45pm EDT

Aug 11 (Reuters) - News and developments in Asia private equity from Reuters News for the week ended Aug. 8.

AUGUST 8

CANADIAN PRIVATE equity firm Altas Partners LP and pan Asia firm Baring Private Equity Asia have acquired a substantial stake in St George's University in Grenada, the university said on Friday.

A UNIT of CVC Capital Partners Ltd sold an 11.5 percent stake in PT Matahari Department Store Tbk, the second time the private equity firm had sold a sizeable block of shares in the Indonesian retail store operator this year.

MALAYSIAN AIRLINE System Bhd said that state investor Khazanah Nasional will offer 27 sen for each share in the company it does not own, amounting to nearly 1.4 billion ($435 million) to take the troubled airline private.

EQT GREATER China said it has sold Taiwan-based cable television operator Gala TV Corp to Yung-tsai Investment Co Ltd, an investment vehicle owned by Wang Yung-tsai, Wang Weng-Tsao and Wong Wen-Yuan.

AUGUST 7

SHARES OF iDreamSky Technology Ltd rose as much as 27 percent in their debut, highlighting the mobile game distributor's ability to cash in on the popularity of hit games such as "Fruit Ninja" and "Subway Surfers" in China.

AUGUST 6

CHINA LIFE Insurance Co Ltd will buy a $250 million stake in private equity firm TPG Capital, a source with direct knowledge of the matter told Reuters.

BARING PRIVATE Equity Asia and Singapore's GIC are in separate talks to invest about $175 million to buy the 49 percent stake in India's PNB Housing Finance Ltd currently held by investment firm New Silk Route, two people with knowledge of the matter said.

LUXURY AUTOMOBILE dealer China Rundong Auto Group Ltd, backed by private equity firm KKR & Co LP, and one of its shareholders raised $124 million in a Hong Kong initial public offering, according to a term sheet seen by Reuters on Wednesday.

MBK PARTNERS' Japanese accounting software firm Yayoi Co Ltd has raised a 33 billion yen ($321.95 million) five-year financing from nine banks, Basis Point reported citing sources.

AUGUST 5

WH GROUP Ltd, the world's biggest pork company, surged 7 percent in its Hong Kong trading debut after sharply scaling back valuations in its second attempt at an IPO.

FORMULA ONE boss Bernie Ecclestone has offered to make a $100 million payment to end his trial on bribery charges, a district court in Munich said, with state prosecutors saying they would accept his offer.

AUGUST 4

AUSTRALIA'S TREASURY Wine Estates is opening its books to KKR after the private equity giant hiked its takeover offer to $3.15 billion, raising the prospect of a bidding war for the world's No.2 winemaker.

THE ASIAN Development Bank, Orix Corp and Robeco Institutional Asset Management BV said they have formed Asia Climate Partners, a joint venture to make private equity investments in low-carbon deals across Asia.

GLOBAL LOGISTIC Properties Ltd is to buy a 15.3 percent stake in China's largest state-owned warehouse logistics company for 2 billion yuan ($324 million), and the two firms will form a joint venture, aiming to tap the warehouse industry in China amid an online shopping boom.

(1 US dollar = 102.5000 Japanese yen) (Compiled by Stephen Aldred in Hong Kong; Editing by Subhranshu Sahu)