Asia Private Equity Weekly News, Aug 18, 2014

Sun Aug 17, 2014 8:34pm EDT

Aug 18 (Reuters) - News and developments in Asia private equity from Reuters News for the week ended Aug. 15.

AUGUST 15

SINGAPORE SOVEREIGN wealth fund GIC said it acquired an 18.5 percent stake in Brazilian education services company Abril Educacao SA.

A MEDIA firm Alibaba Group Holding Ltd IPO-BABA.N recently bought said a review of its finances revealed possible accounting irregularities, casting doubts on the Chinese e-commerce giant's due diligence as it prepares for a U.S. initial public offering.

AUGUST 14

TPG CAPITAL Management LP has agreed to purchase a majority stake in Sri Lanka's Union Bank of Colombo Plc for $113 million in the country's biggest buyout deal.

AAC CAPITAL UK is looking to sell kettle safety firm Strix in a deal that could value the company at $500 million and draw interest from other private equity firms and Chinese buyers, three sources familiar with the matter told Reuters.

JAPANESE PROPERTY developer Mori Trust Co is in final talks to buy a complex of buildings in Tokyo from U.S. buyout firm Lone Star for more than 100 billion yen (about $1 billion), five people with knowledge of the matter said.

A GOLDMAN Sachs Group Inc unit is a final bidder for a Tokyo office tower in a deal that could fetch about 165 billion yen ($1.6 billion), said people familiar with the deal, which could be the biggest office property deal in six years.

CHINESE SPORTSWEAR maker Li Ning Co Ltd said it made a first-half net loss of nearly $100 million, much wider than a year earlier, as it soaked up one-off charges and the cost of opening more stores amid fierce competition in the industry.

GULF OF Mexico deepwater oil explorer Venari Resources LLC said it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors.

GOODPACK LTD said that shareholders approved the acquisition of all issued and paid-up ordinary shares in the company by IBC Capital Ltd, a wholly-owned subsidiary of funds affiliated with and advised by KKR & Co LP.

AUGUST 13

SOUTH KOREAN aluminium and food can maker Dongwon Systems Corp said it has agreed to buy bottle maker Techpack Solutions Co Ltd for 250 billion won ($243 million) from Asia-Pacific private equity fund MBK Partners.

SOUTH KOREA'S YG Entertainment Inc said it is considering selling a stake in itself or various other forms of securing investment or partnerships from third parties, but nothing has been decided.

AUGUST 12

A KKR & Co-led takeover of Australia's Treasury Wine Estates Ltd would likely lead to a long and drastic overhaul, resulting in a much smaller but more profitable company, bankers familiar with the matter said.

CARLYLE GROUP has bought a minority stake in Chinese online and mobile-based classified advertising business Ganji.com, the global private equity firm said.

NEW ZEALAND'S two biggest Maori commercial groups have joined forces to buy one of the country's major bus operators in a further example of their growing financial strength.

A SATELLITE internet provider serving U.S. and Australian troops in Afghanistan and air crash investigators in Ukraine made a strong debut in Sydney trading, with the firm saying increasing incidence of "man-made disasters" would bolster its prospects.

LUXURY AUTOMOBILE dealer China Rundong Auto Group Ltd , backed by KKR, fell as much as 16 percent in its Hong Kong trading debut.

LAW FIRM Dechert LLP said it has opened an office in Singapore which will initially focus on investment fund formation with Dean E. Collins as office managing partner. (bit.ly/1p2gzJv)

AUGUST 11

TWO GLOBAL private equity giants are set to face off in a battle for Australia's Treasury Wine after TPG matched a $3.1 billion move from KKR for one of the world's biggest wine makers.

CVC CAPITAL Partners has agreed to sell kimchi refrigerator maker WiniaMando Inc for around 150 billion won ($144.73 million) to South Korea's Hyundai Green Food Co, a Hyundai spokeswoman said.

A CONSORTIUM including South Korea's National Pension Service and gas seller E1 Corp has been chosen as preferred bidder to buy a $540 million stake in US-based shale gas transport firm Cardinal Gas Services, NPS and E1 officials said. (Compiled by Stephen Aldred in Hong Kong; Editing by Subhranshu Sahu)

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

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