HONG KONG, February 6 News and
developments in Asia private equity from Reuters News for the
Lunar New Year and week ending Feb. 3.
HONG KONG'S Hutchison 3G will buy Orange Austria from France
Telecom SA and Mid-Europa Partners in a deal valued at
1.3 billion euros ($1.7 billion) including debt, expanding the
corporate footprint of Asia's richest man in Europe.
BLACKSTONE GROUP LP, the largest publicly listed
alternative asset manager, reported lower fourth-quarter
earnings as performance fees declined, but management fees
increased from assets that grew to a record $137 billion.
ANALYSIS-It's the year's hottest initial public offering,
but some wealth managers find themselves having a hard time
recommending Facebook to their clients.
PRIVATE EQUITY firm TPG Capital LP has held initial
discussions with a group of eight banks to fund a takeover bid
for Australian underwear maker Pacific Brands Ltd,
according to a source familiar with the matter.
THE U.S. private equity industry's lobbying group said on
Thursday that it has launched a campaign to tackle what it
called a lack of understanding of the industry in the face of
attacks on Republican presidential contender Mitt Romney.
CHINA INVESTMENT Corp (CIC) has acquired a minority
stake in Washington-based asset manager EIG Global Energy
Partners, the latest energy-related investment from China's $410
billion sovereign wealth fund.
LOS ANGELES-based media and communications investment firm
Saban Capital Group, which has Asia investments including Media
Nusantara Citra PT and China's Taomee Holdings Ltd
, said it has opened a Hong Kong office led by Sumeet
CARLYLE GROUP and Warburg Pincus LLC took
advantage of India's recent market gains to pare stakes in two
financial companies in deals worth $440 million, a sign of
investor wariness about the sustainability of the rally.
CARYLE SOLD about 20 million shares of Housing Development
Finance Corp Ltd in market deals on Wednesday, the
chief executive of the Indian mortgage lender said, citing
WARBURG PINCUS sold about 17.5 million shares in India's
Kotak Mahindra Bank Ltd via stock market deals to
raise about $170 million, three sources with direct knowledge of
the matter said.
A UNIT of the Swire group of companies, a Hong Kong
conglomerate with interests ranging from properties to airlines,
is among bidders for electronics and furniture retailer Courts
Asia Ltd, two sources close to the matter said, an asset that
could fetch close to $400 million.
UNITAS CAPITAL has acquired Carlyle's stake in China
restaurant chain Babela Group, said a source familiar with the
matter, in a small deal but one that underscores the tough exit
conditions for private equity investors.
BAIN CAPITAL and Unitas are among suitors to submit
second-round bids to buy Prestolite Electric Inc
from First Atlantic, two sources told Reuters, in a deal worth
about $400 million.
INDIAN MICROFINANCE company Ujjivan Financial Services said
on Wednesday that it has raised $25.5 million by diluting a
minority holding in the company to private equity funds
including Netherlands Development Finance Co, Wolfensohn Capital
Partners and existing investors.
JAPAN'S ORIX Corp has dropped out of the race to
buy software developer Yayoi, a source familiar with the matter
told Reuters on Tuesday, which could be a blow to MBK Partners'
plan to sell the business.