May 5 News and developments in Asia private
equity from Reuters News for the week ending May 2.
SHARES OF Ares Management LP, the first U.S.
private equity firm to go public in about two years, fell as
much as 5.3 percent in their trading debut, adding to the list
of underperforming IPOs over the past month.
PRIVATE EQUITY firm Carlyle Group LP reported an 18
percent drop in quarterly profit as strength in its main
business of corporate buyouts was offset by weaker performances
in its credit and real-estate funds.
A CONSORTIUM of RRJ Capital and Temasek Holdings
have agreed to invest 1.3 billion euros ($1.8 billion) in ING
Groep's European and Japanese insurance and investment
management unit ahead of its planned IPO, the Dutch financial
services firm said in a statement.
HASTINGS FUNDS Management and China Merchants Group have won
a state government auction for a 98-year lease on Australia's
Port of Newcastle, the world's biggest coal export terminal,
paying a higher-than-expected A$1.75 billion ($1.6 billion).
A BID for French holiday operator Club Med by
China's Fosun International and French private equity
firm Ardian will close next month after a court rejected a
shareholders' challenge that had delayed the deal by nearly a
CHINA'S WH Group Ltd, the world's biggest pork company,
postponed its planned Hong Kong initial public offering,
underscoring weak demand for the deal even after the company
slashed the offer's size and reduced the valuation, people with
direct knowledge of the matter said.
ALIBABA GROUP Holding Ltd and a private equity firm
co-founded by its executive chairman Jack Ma have agreed to buy
a $1.22 billion stake in Youku Tudou Inc, as China's
e-commerce giant intensifies its focus on online video business.
VIOM NETWORKS Ltd, an Indian phone tower operator majority
owned by the Tata Group, is looking to raise funds either
through a stake sale or an overseas listing that could raise up
to $350 million, sources with direct knowledge of the matter
MALAYSIAN STATE asset manager Permodalan Nasional Bhd is
considering a proposal to merge four of its portfolio companies
to form Southeast Asia's second largest property firm by assets,
a source with direct knowledge of the matter said.
AUSTRALIAN FACILITIES management company Spotless Group
plans to raise as much as A$1 billion ($928.2 million) in the
country's biggest initial public offering so far this year.
CVC CAPITAL Partners has completed an investment in
South Beauty Investment Co Ltd, and is now the major shareholder
in the Chinese restaurant chain, the two companies said in a
TWENTY-TWO Chinese firms, including Zhoushan Port Co Ltd,
announced plans to list on China's equity markets, boosting the
number of potential stock market debutants after a two-month
lull in new listings.
SHARES IN railway and property company Seibu Holdings Inc
opened in line with its deeply discounted IPO price on
its relisting in Tokyo, reflecting growing caution over the
strength of Japan's economic recovery.
PRIVATE EQUITY firm ClearVue Partners has led a $10 million
round of financing to invest in Akasakatei, a Teppanyaki, BBQ
and Japanese-cuisine restaurant company.
JAPANESE FINANCIAL services company Orix Corp will
buy precious metal, diamond and jewellery recycler Net Japan Co
from Baring Private Equity Asia for around 21 billion yen
($204.7 million), people with knowledge of the matter said.
SINGAPORE'S NATIONAL Research Foundation said it had
selected six venture capital firms to inject S$120 million
($95.8 million) into Singapore-based startups. The firms are
Golden Gate Ventures, Jungle Ventures, Monk's Hill Ventures,
Walden International, SBI Ven Capital and New Asia Investments.
CHINESE DRUGMAKER Shanghai Fosun Pharmaceutical Group Co Ltd
and private equity firm TPG Capital agreed
to buy China-focused Chindex International Inc in a
beefed-up $461 million deal after trumping a rival bid.
($1 = 1.2524 Singapore Dollars)
(Compiled by Stephen Aldred in Hong Kong; Editing by Anand