HONG KONG, February 10 News and developments in
Asia private equity from Reuters News for the week ending Feb.
PRIVATE EQUITY-backed China car dealerships are targeting
Hong Kong listings of up to $1.4 billion, with KKR & Co
backed Rundong Automobile Group and TPG Capital backed
China Grand Automotive Services aiming to list in the first half
of the year, IFR reported.
THE INDIAN Commodity Exchange is set to fold due to
plummetting trading volume as a result of the government's
failure to liberalise and investors retreat from futures markets
after a major financial scandal at another exchange last year.
ASTON MARTIN said its expanded recall of accelerator pedals
in 17,590 sports cars would not result in a material added cost
beyond its previous estimate of 1.5 million British pounds($2.45
THE CANADA Pension Plan Investment Board named Ed Cass as
its new chief investment strategist and a member of its senior
management team, giving him responsibility for the overall
investment strategy of the massive pension fund.
THREE INVESTMENT consortia - two involving Gulf Arab
government-owned funds - plan to lodge indicative bids for
Australian state-owned toll road company Queensland Motorways
Ltd on Friday, sources close to the transaction said, in a sale,
estimated by analysts to fetch about $4.5 billion.
JAPAN'S SEIBU Holdings said it would reinstate a senior
executive recommended by Cerberus Capital Management LP
in a sign the railway and hotel group is seeking to improve
relations with its top shareholder ahead of a planned IPO.
GLOBAL PRIVATE equity firm KKR has agreed to lend about $100
million to India's Avantha Group to help it grow its businesses
and improve its capital structure, the Indian company said.
SONY CORP'S plans to quit making personal computers
after years of losses focus a spotlight on how it intends to fix
a much bigger problem -- a flagship TV division that has lost
$7.5 billion over the last 10 years.
ASTON MARTIN expanded a recall to cover most of its sports
cars built since late 2007 after discovering a Chinese
sub-supplier was using counterfeit plastic material in a part
supplied to the British luxury sports carmaker.
THE TOP U.S. audit watchdog said that the United States and
China are close to striking a deal that would allow Washington
to inspect the audit work of accounting firms in China.
PANASONIC CORP said it would sell chip assembly
plants in Southeast Asia to a unit of Singapore's UTAC Holdings
Ltd, owned by Affinity Equity Partners and TPG, as it moves into
the final stages of a sweeping restructuring to unload
SHARES IN Lenovo Group Ltd slumped more than 16
percent on after a weekend media report said the Chinese
personal computer maker was in talks with Sony about a possible
joint venture to buy Sony's loss-making Vaio PC business outside