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Asia Private Equity Weekly News, May 27, 2013
May 27, 2013 / 1:30 AM / 4 years ago

Asia Private Equity Weekly News, May 27, 2013

HONG KONG, May 27 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending May 24.

MAY 24

TOSHIBA CORP and U.S. private equity firm Kohlberg Kravis Roberts & Co are among those expected to bid for Panasonic Corp‘s. healthcare business, financial sources with knowledge of the matter said.

DUTCH BANK ING has attracted two more bidders for its South Korean insurance business, said a source with direct knowledge of the matter, taking the total number to three and raising the chances of a successful deal after an earlier sale fell through.

A GROUP of private equity firms led by Carlyle Group has completed the $3.7 billion buyout of Focus Media Holding Ltd , the largest ever buyout of a U.S. listed China company.

MAY 23

GDC TECHNOLOGY Ltd, a Chinese digital cinema equipment maker backed by the Carlyle Group, has applied for a listing on U.S. stock exchange Nasdaq of up to $75 million.

PRIVATE EQUITY-controlled power firm Alinta Energy is planning a $1 billion-plus debt issue in the U.S. term loan B institutional market to refinance maturing debt.

MAY 22

PRIVATE EQUITY-backed Indian local search service provider Just Dial Ltd’s up to $170 million initial public offering was subscribed 11.6 times on closing, in what is the biggest IPO in the country so far this year.

U.S. LISTED Chinese vegetable grower Le Gaga Holdings Ltd said it had received a going private offer from a consortium including its CEO and Sequoia Capital China, which has offered to acquire all outstanding shares of the company at $4.01 per ADS and $0.0802 per ordinary share.

CARLYLE IS planning to raise 200 billion yen ($2 billion) for a third Japan fund to succeed its seven-year old second fund, with Japan’s aggressive monetary easing helping to boost investor interest, people with direct knowledge of the matter said.

MAY 21

KKR IS selling a remaining stake in Australia’s Seven West Media Ltd valued at A$265 million ($260 million), exiting an investment made almost seven years ago at the height of a buyout boom.

A BOUTIQUE carmaker led by former General Motors Co executive Bob Lutz and China’s largest auto parts supplier made an offer this month to buy cash-strapped “green” car company Fisker Automotive, people familiar with the matter said.

SHARES IN Australia’s Discovery Metals Ltd dived more than 20 percent on Tuesday after the Botswana-focused copper miner said it was seeking a buyer and came off a long trading suspension.

AN INDONESIAN tycoon who owns a big stake in a huge copper and gold prospect taken from Australia’s Intrepid Mines last year is willing to resolve the ownership dispute, he said in a letter to an investor looking to oust the company’s board.

BLACKROCK, THE $4 trillion U.S. fund manager, has bought private equity real estate fund MGPA in a deal that boosts its presence in Asia and continental Europe.

MAY 20

PACTERA TECHNOLOGY International Ltd said that Blackstone Group LP, together with the company’s management, made a $680.3 million non-binding proposal to take China’s largest technology outsourcing firm private.

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