HONG KONG, February 10 News and developments in
Asia private equity from Reuters News for the week ending
U.S. PRIVATE equity firm Cerberus Capital Management LP
has sold a 1,900 square metre block of land in Tokyo's
posh Aoyama shopping district to Japanese general contractor
Shimizu Corp for 13 billion yen ($127 million) as the
U.S. investment fund tries to recoup gains from its Japanese
MBK PARTNERS' software company Yayoi Company Ltd is seeking
a refinancing to take advantage of strong liquidity in the
Japanese loan market, a year after completing a 29 billion yen
deal, Basis Point reported.
CHINA'S SOVEREIGN fund, China Investment Corp,
confirmed on Friday it has appointed Li Keping as vice chairman
and president to replace Gao Xiqing who is due to retire.
SINGAPORE SOVEREIGN fund GIC has cut its stake in
commodities trader Bunge Ltd to 1.73 percent from 4.99
percent a year earlier, according to a U.S. regulatory filing.
THE CANADA Pension Plan Investment Board, one of the world's
biggest pension funds, notched another quarter of strong returns
but its chief executive officer said he wishes the fund had been
more aggressive when prices were cheap.
PRIVATE EQUITY-backed online cosmetics retailer Jumei.com
hired Credit Suisse and Goldman Sachs to manage
an up to $600 million initial public offering in the United
States, joining other Chinese firms queueing to raise funds
there as technology company valuations soar.
CHINESE BUYOUT firm Hony Capital is in advanced talks to
join Baring Private Equity Asia consortium's $2.8 billion bid
for online gaming company Giant Interactive Group Inc,
two people with knowledge of the matter told Reuters.
THE LEVERAGED buyout financing backing the proposed
delisting of Giant Interactive is expected to be around $800
million to $850 million, reduced from about $1 billion, Basis
Point reported citing sources.
A RARE sale of a stake in Alibaba Group Holding
values China's dominant e-commerce company at around $128
billion, Reuters calculations show.
INDIA'S PIRAMAL Enterprises Ltd said it will join
with Canada Pension Plan Investment Board to set up a $500
million fund to finance residential property projects in India.
GLOBAL A&T Electronics (GATE) bondholders, including
investors such as Blackstone and Farallon, have filed a
lawsuit against the company seeking the reversal of a debt swap
that allowed higher priority to junior noteholders.
DEALTALK-CHINESE companies are flocking to the U.S. IPO
market in their biggest numbers since 2010, drawn by soaring
valuations for tech start-ups and undeterred by a flare-up in an
accounting row between Washington and Beijing.
RRJ CAPITAL, founded by former Goldman Sachs banker and Hopu
dealmaker Richard Ong, plans to invest 1.5 billion yuan ($248
million) in Shanghai Bright Holstan Co, a unit of Bright Dairy &
Food Co Ltd.
ALIBABA OFFERED to buy AutoNavi Holdings Ltd in a
deal valuing the Chinese digital mapping and navigation firm at
CARLYLE GROUP said it had sold its majority stake in
India-based security company Cyberoam Technologies Private
Limited to IT security company Sophos for an unspecified amount.
Local media reported that Carlyle sold an 80 percent stake for 5
billion rupees ($80.5 million). ()