HONG KONG Nov 6 News and developments in Asia
private equity from Reuters News for the week ending Nov. 1.
AUSTRALIA'S NINE Entertainment Co Pty Ltd is seeking to
raise as much as $570 million in an initial public offering, a
person familiar with the process said, a move that will help the
troubled TV network pay down debt.
A DEAL for CVC Capital Partners to buy a majority
stake in a Chinese restaurant chain highlights a growing
willingness by smaller China firms to cede control to foreign
private equity amid unfavourable IPO prospects.
HONG KONG-based private equity firm Gaw Capital Partners
said on Wednesday it had raised a $1.025 billion real estate
fund for investment in China, its biggest ever fund.
BAMBOO FINANCE said it had sold its stake in TenGer
Financial Group, the holding company of Mongolia's Xac Bank, to
investors including Orix Corp, resulting in expected
returns above 25 percent in local currency and two times its
ITALIAN LUXURY leather goods brand Bruno Magli said its
hedge fund owner Fortelus has begun exclusive talks to sell the
entire company to a consortium of Asian investors, including
South Korean retailer E-Land and Hong Kong-based private equity
firm CDIB Capital in November.
CLSA CAPITAL Partners, the alternative asset management arm
of brokerage CLSA, said it had hired Dr. Richard Woodling as an
operating partner for its Clean Resources Asia Growth Fund. ()
LAW FIRM Debevoise & Plimpton LLP said Andy Y. Soh, a
specialist in internal investigations and complex commercial
disputes, has joined the firm as International Counsel. ()
ASIAN PRIVATE equity firm MBK Partners has put Techpack
Solutions Co Ltd on the auction block, people familiar with the
matter said, in a deal that could fetch up to 600 billion won
($565 million) for the South Korean bottler.
FOUNDERS OF India's Apollo Hospitals Enterprise have agreed
to raise 5.5 billion rupees ($89.42 million) from U.S. buyout
firm KKR Co & LP in a structured debt deal, the company
said in a statement.
CHINA'S SUNING Commerce Group and Hony Capital,
an affiliate of Lenovo Group, will invest $420 million
in PPTV, a Chinese online TV services provider, Suning said in a
statement on Monday.
ASIAN PRIVATE equity firm RRJ Capital, founded by ex-Goldman
Sachs and Hopu Management dealmaker Richard Ong, has
invested a further $248 million in ING Groep's U.S.
insurance unit, a person with direct knowledge of the matter
BRITAIN'S ROYAL Mail PLC said Singapore's GIC
has raised its stake in the mail carrier to above 4
JAPAN'S ANT Capital Partners said it had taken a majority
stake in Japanese shoe maker MoonStar Co Ltd, which makes shoes
for K-Swiss, Burberry and Disney, though a management buyout.
Ant did not disclose the value of the deal.
A PRIVATE consortium is seeking to raise a $2.1 billion
syndicated loan to back the purchase of an 81 percent stake in
US insurer American International Group's aircraft
leasing unit ILFC, banking sources said.
AUSTRALIA'S NEWLY elected conservative government has
ordered a study into selling government-owned insurer Medibank
Private, kickstarting privatisations as it scours state assets
to see where it can make budget savings.
BLACKSTONE GROUP founder Stephen A. Schwarzman said
at a groundbreaking ceremony for Schwarzman College at Tsinghua
University in Beijing that $260 million had been raised for
Schwarzman Scholars, an international scholarship programme in
PRIVATE EQUITY firm Actis said it invested $48 million in
Indian pharmaceuticals company Symbiotec Pharmalab Ltd for a
AT LEAST three South Korean firms made preliminary bids for
the brokerage unit of the Woori Finance Holdings Co Ltd
, giving a boost to the government's decade-old
attempts to privatise the country's biggest banking group.