HONG KONG, October 21 News and developments in
Asia private equity from Reuters News for the week ending
U.S. PRIVATE equity firm TPG Capital will pay
HK$1.66 billion ($213.73 million) for 21st Century
Fox-controlled Star Entertainment's remaining stake in Chinese
satellite television operator Phoenix Satellite Television
JAPAN'S GOVERNMENT Pension Investment Fund (GPIF) is making
initial moves toward investing in private equity, sources say, a
potentially big step in the world's biggest public pension
fund's strategy of shifting some of its $1.2 trillion in assets
towards riskier investments.
HUTCHISON WHAMPOA, controlled by Asia's richest
man, Li Ka-shing, has scrapped a plan to sell its Hong Kong
supermarkets business, ParknShop and will instead focus on
expanding in China, it said.
PACTERA TECHNOLOGY International Ltd, China's
largest technology outsourcing company, agreed to be taken
private by a consortium led by Blackstone Group LP for
$625 million, after a month of wrangling over the sale price.
CHINESE COMPUTER maker Lenovo, which has signed a
non-disclosure deal to examine BlackBerry's books, faces
regulatory obstacles if it bids for all of the company and will
likely pursue just parts, a source familiar with the matter said
PRIVATE EQUITY firm RRJ Capital is placing a bet on China's
real estate market by investing $50 million in a new share issue
by the Hong Kong-listed property developer CIFI Holdings Group
YAHOO INC'S plan to keep a larger-than-expected
stake in e-commerce giant Alibaba after the Chinese
company's IPO prompted at least seven brokerages to raise their
stock price targets on the U.S. company.
INDIA'S FORTIS Healthcare Ltd has decided to sell
its stake in Quality Healthcare Medical Services in Hong Kong to
British medical services group Bupa for $355 million,
as part of its efforts to reduce debt by selling some assets.
CREDIT FUND manager Bentham Asset Management said it has
launched two New Zealand dollar funds targeted at New Zealand
CHINA-FOCUSED water treatment company SIIC Environment
Holdings Ltd is raising S$260.2 million ($208.7
million) by selling new shares to investors including Chinese
sovereign wealth fund CIC and private equity firm RRJ
ALIBABA GROUP'S plans to revolutionise China's retail
industry, investing $16 billion in logistics and support by
2020, will open up China's vast interior and bring access to
hundreds of millions of potential new customers.