HONG KONG, September 16 News and developments in
Asia private equity from Reuters News for the week ending Sept.
SINGAPORE'S STATE investor Temasek Holdings Pte Ltd
has appointed Wu Yibing, a senior executive from China's biggest
brokerage firm CITIC, to head its China business, which accounts
for about a fifth of its $170 billion portfolio.
KKR & CO LP is considering teaming up with a
state-backed Japanese investment fund to secure a stake in
Panasonic Corp's healthcare business, media reported,
although people familiar with the matter said the U.S. firm has
not approached the fund yet.
CHINESE POLICE have detained outspoken and well-known
venture capitalist Wang Gongquan for questioning, a fellow
activist said, after he helped lead a campaign for the release
of another activist, as the government tightens a crackdown on
CHINA'S LARGEST technology outsourcing company, Pactera
Technology International Ltd, said Blackstone Group LP
and the company's management reduced their offer to take
the company private, citing its weakening financial performance.
PRIVATE EQUITY firm Advent International and an Asian
partner have agreed to take a large stake in coffee and tea
retailer, The Coffee Bean & Tea Leaf.
ANCHORAGE CAPITAL Partners is exploring a potential IPO for
Australian retailer Dick Smith Electronics and has appointed
Goldman Sachs and Macquarie Group to advise it
on a listing and other strategic options, sources familiar with
the matter said.
CHINA PRIVATE equity firm CITIC Capital is raising two loans
totalling HK$1.65 billion ($212.8 million), Basis Point reported
JAPANESE RECRUITMENT giant Recruit Holdings Co is in talks
to buy Australian online jobs portal Freelancer.com for $400
million, a source close to the deal said, declining to be
identified as the information was confidential.
CHINESE BANKS have a colossal mess of bad debts to clean up
for the second time in as many decades, but they are unlikely to
call in the financial world's most efficient mop and broom.
SOUTHEAST ASIA private equity firm Navis Capital Partners
said it has acquired Australia-based private childcare operator
Guardian Early Learning Group for an undisclosed sum. Local
media valued the deal at around A$120 million. ()
ACQUISITIVE NON-BANK lender Pepper Australia is vying to buy
assets with a net book value estimated at around A$1 billion
($919.45 million) from Britain's Lloyds Banking Group
as it looks to sell down in Australia, banking sources.