HONG KONG, March 25 News and developments in
Asia private equity from Reuters News for the week ending March
CVC CAPITAL Partners and PT Multipolar Tbk
raised around $1.3 billion by selling part of their
stake in Indonesian retail giant PT Matahari Department Store
, sources said, underlining the profit potential for
private equity firms in fast-growing Southeast Asian markets.
PT MULTIPOLAR, an Indonesian investment holding company,
jumped as much as 9 percent following the stake sale in its
retail division PT Matahari.
THE LOCAL government in Suntech Power Holdings Co Ltd's
home town is seeking to bail out China's biggest solar
panel maker to stave off its collapse, a person with knowledge
of the matter told Reuters on Thursday.
THE VALUE of announced mergers and acquisitions for the
first quarter in the Asia-Pacific region excluding Japan fell
26.6 percent from a year ago to $79.5 billion, making it the
slowest start to a year since 2009, preliminary data released by
Thomson Reuters showed.
JAPAN'S RENESAS Electronics Corp is in talks with
foreign companies about selling the mobile phone chip business
it bought from Nokia Oyj three years ago, the
company's new president said.
AUTOMOTIVE INDUSTRY systems supplier Broadleaf, acquired by
Carlyle Group in 2009, returned to the Tokyo Stock
Exchange and closed the day at 1,480 yen per share, up 37
percent from where the 20.3 billion yen ($213.56 million) IPO
priced on March 12, IFR reported.
CHINA-BASED ReneSola Ltd received a 320 million
Chinese yuan ($50.9 million) loan from China Development Bank
Corp, in the latest instance of the Asian country's
support for heavily-indebted solar companies.
TROUBLED AUSTRALIAN surfwear firm Billabong International
Ltd said it remains in talks with two groups weighing
$544 million bids for the company -- a statement that comes
after the company's shares plunged to a record low.
STANDARD CHARTERED Private Equity raised HK$386 million
($49.7 million) from the sale of its entire interest of 193
million shares in Huaneng Renewables Corp, IFR
GLOBAL PRIVATE equity firm Harbourvest Partners has hired
former RBS banker Alun Lewis as a principal based in
Hong Kong, as it looks to expand into investing in Australian
leveraged loans, Basis Point reported.
A GROUP of lenders filed a petition for the main subsidiary
of China-based solar panel maker Suntech to be declared
insolvent, a sign the country's support for the loss-making
industry may be waning.
SHARES IN Australian engineering firm Bradken Ltd
dropped almost 5 percent after a court ruled against the company
in a landmark "bid rigging" case involving the sale of a
Canadian mining services company.
HONG KONG private equity firm AID Partners Capital, which
recently bought British music and video retailer HMV's
Hong Kong and Singapore operations, said it has formed a China
joint venture with Prime Focus Ltd to focus on
entertainment services for motion pictures in Greater China.
STANDARD CHARTERED Bank has hired Nomura's head of
mergers and acquisitions for Southeast Asia, Jason Morris, to
join its regional M&A team as a managing director, two sources
with direct knowledge of the matter said.
LUNAR CAPITAL, a China consumer-focused private equity firm,
said it has made several new hires including Vincent Sun, a
former general manager of Parker Pens, who will work as the
firm's sector partner for high-end branded products.
U.S.-LISTED China firm Ambow Education Holding Ltd
said it had received a proposal to go private from Baring
Private Equity Asia, offering $1.46 for each American Depositary
Share (each ADS represents two Class A ordinary shares) and
$0.73 for each Class A and Class B ordinary share of the
MATERNITY, INFANT and kids clothing company Guangdong
Aiyingdao Children Department Store Co Ltd and Standard
Chartered Private Equity (SCPE) said that SCPE will invest an
undisclosed amount in Aiyingdao, which has more than 230
directly operated stores in Southern, Eastern and Central China.
($1 = 7.7622 Hong Kong dollars)($1 = 95.0550 Japanese yen)