HONG KONG Apr 2 News and developments in Asia
private equity from Reuters News for the week ending March 29.
GIBSON GUITAR, known for producing electric
guitars used legendary rock guitarists such as Jimmy Page and
Jeff Beck, said it was buying a majority share in Japanese audio
equipment manufacturer TEAC Corp for 4.88 billion yen
($51.9 million) from funds operated by Phoenix Capital.
CITIC PRIVATE Equity has acquired Hoau, the Chinese parcel
service of Dutch delivery company TNT Express for an
undisclosed amount. Analysts estimated the network of 1,600
distribution depots is worth roughly 70 million euros ($90
MALAYSIAN PRIVATE equity firm Navis Capital said it has
purchased a 54.8 percent equity interest in data services
company Strateq Sdn Bhd from Kencana Capital Assets Sdn Bhd for
an undisclosed amount.
U.S. PRIVATE equity firm TA Associates and
technology-focused growth equity firm Updata Partners said they
plan to invest in Australia-headquartered software solutions
firm Nintex Group.
KKR & CO LP agreed to sell Intelligence Holdings to
Temp Holdings for 68 billion yen ($721 million), almost
double what the U.S. buyouts firm initially paid for the
temporary staffing agency three years ago.
JAPANESE RAILWAY and real estate group Seibu Holdings said
it opposes Cerberus Capital Management LP's attempt to
increase its stake in the company, setting up a battle with its
BARING PRIVATE Equity Asia has withdrawn its bid to take
private U.S.-listed China company Ambow Education Holding Ltd
, after three independent directors and the company's
auditor resigned, Ambow said in a statement.
SDCL ASIA, a joint venture between Sustainable Development
Capital LLP (SDCL) and Hong Kong-based First Eastern Investment
Group, is establishing an investment programme for up to S$200
million ($161.11 million) to finance energy efficient systems in
manufacturing facilities, SDCL said in a statement.
PRIVATE EQUITY firm CVC Capital Partners and Royal
Bank of Scotland sold a combined $528 million stake in
Hong Kong-listed luggage maker Samsonite International
, according to a term sheet seen by Reuters.
NINE BANKS joined the senior syndication of a $1.075 billion
loan backing the $3.7 billion buyout of Nasdaq-listed Chinese
display advertising company Focus Media Holding Ltd,
Basis Point reported citing sources.