HONG KONG, June 17 News and developments in Asia
private equity from Reuters News for the week ending June 14.
CERBERUS CAPITAL Management LP publicly questioned
the management of Seibu Holdings, hoping to garner support for
its plans to shake up the board of the Japanese railway and
property group at a shareholders meeting scheduled for later
JPMORGAN CHASE & Co said its private equity unit,
One Equity Partners, which manages $4.5 billion of investments,
will become independent, as the largest U.S. bank increases its
focus on client businesses.
KKR-BACKED Australian health services firm
GenesisCare will launch a $275 million credit facility on June
18 to refinance debt and pay a dividend, Thomson Reuters LPC
SHARE REGISTRY business Link Group, owned by Australian
private equity firm Pacific Equity Partners, which last year
failed in a bid to sell the business, has launched a A$710
million ($683 million) loan into syndication, Basis Point
CHINA HARMONY Auto Holding, an auto dealership
backed by private equity investors Morgan Creek and Legend
Capital, saw its shares plunging as much as 16.5 percent on its
debut, amid a slide in investor sentiment.
KKR-BACKED electronic parts maker Yageo Corp,
which last year saw plans for a $1.6 billion management buyout
blocked by Taiwan's regulators, is seeking a loan of up to NT$7
billion ($235 million) to refinance debt, Basis Point reported
A RENEWABLE energy fund financed by the Australian
government is set to sign a deal to help New Zealand's Meridian
Energy increase its debt in a major wind project, freeing up
more cash for the state-owned generator ahead of its planned
IPO, three sources close to the deal said.
INDONESIAN CONGLOMERATE Bosowa Corp is set to be announced
as the preferred buyer of a 30 percent stake in mid-size lender
Bank Bukopin, worth about $250 million, two sources
with direct knowledge of the auction said.
EREDENE CAPITAL Plc, an AIM listed investor in
Indian infrastructure, said it had sold its stake in India port
operations and marine services company Ocean Sparkle to
Mauritius-based Infrastructure India Holdings Fund for 8.2
PROVIDENCE EQUITY Partners has lost another top executive in
Asia, its fourth senior departure in the region since 2008, as
it struggles with a limited supply of suitable investment
targets and a shrinking volume of Asian private equity deals.
THE INVESTOR love affair with emerging markets may be gone,
but several money managers aren't completely abandoning the
sector. Fund managers who viewed emerging markets as a single
investment category now need to go through extreme due diligence
to select each asset, sector or country in order to attain
AUSTRALIA'S VIRTUS Health Ltd became the first
in-vitro fertilisation company in the world to list, hitting the
boards at a 7 percent premium to its offer price and sparking
hope of renewed life in the country's stalled initial public
A COURT has ordered China's Ambow Education Holdings Ltd
into provisional liquidation, a move that could end
months of wrangling between the CEO and external shareholders
that include Avenue Capital, Baring Asia and Macquarie.
TWO THIRDS of private equity investors have made net returns
of at least 11 percent over the lifetime of their portfolios, a
survey from Coller Capital showed, with returns dropping since
the financial crisis.
($1 = 29.8500 Taiwan dollars) ($1 = 1.0391 Australian dollars)