HONG KONG, February 20 News and
developments in Asia private equity from Reuters News for Lunar
New Year and the week ending Feb. 17.
CARLYLE GROUP has begun the process of selling its
over $300 million stake in Taiwan's Ta Chong Bank Ltd,
sources said, as it joins other private equity firms in looking
to exit the island's low-margin financial sector.
MMI INTERNATIONAL, a technology company owned by private
equity fund KKR & Co LP, will price its $300 million
five-year bond at 8 percent in New York, the bottom end of price
guidance, after receiving strong support from U.S. investors,
according to a source familiar with the matter.
AUSTRALIAN SURFWEAR company Billabong International
rebuffed a $820 million private equity bid from TPG Capital
, announcing plans to sell a stake in its Nixon watch
brand and close up to 150 stores, sending its shares up by more
than 50 percent.
CHINA HAS launched a 50 billion yuan ($7.93 billion) fund in
Shanghai to aid overseas acquisitions by Chinese companies as
part of efforts to promote international use of the yuan and
build the commercial hub into a global financial center.
HANA FINANCIAL Group said that it had reached a
deal with the labour union of Korea Exchange Bank (KEB)
which had threatened to strike over possible job
losses following Hana's acquisition of KEB.
WINS INVESTMENT, the fund arm of Chinese property developer
Gemdale, says it plans to double funds under
management to take advantage of a government clampdown on
property financing that could see smaller developers starved of
L CAPITAL Asia, the private equity arm of the world's
biggest luxury goods group LVMH Moët Hennessy Louis Vuitton SA
, could begin raising a new fund of more than $1
billion this year, as competition from Western brands creates
opportunities to invest in Chinese retailers, its top executive
CANADA PENSION Plan Investment Board, which manages the
country's second largest pension fund, has hired former Goldman
Sachs banker Mark Machin to head its Asia-Pacific
business, according to a source close to the matter.
L CAPITAL has bought the 8 percent stake held by Wolfensohn
Capital Partners in unlisted Indian ethnic wear chain Fabindia,
two sources with direct knowledge of the matter said.
SOUTH KOREA'S National Pension Service (NPS), the world's
No.4 largest pension fund, plans to invest around $300 million
in a real estate opportunity fund led by Blackstone Group
, an NPS official said, amid the fund's efforts to step up
its investments in real estate assets.
U.S PRIVATE equity fund Norwest Venture Partners has
invested $15 million in Manthan Systems, an unlisted Indian
software products company, for a minority stake, the Indian
company said on Wednesday.
WANT WANT China Holdings, the buyer of private
equity fund MBK Partners' Taiwan cable TV unit, will have to
give more information to the island's broadcast regulator
concerning its media operations, the latest delay in the $2.4
JAPANESE PRIVATE equity secondary fund Ant Capital Partners
said it closed its third Japanese secondaries fund at the end of
December 2011 raising $140 million, attracting commitments from
15 Japanese institutional investors.
SOUTH KOREA'S SK Group is in talks to take over
U.S. oil and gas company Chaparral Energy, a company 36 percent
owned by CCMP, according to a source familiar with the matter.
TALKS BETWEEN Yahoo Inc and China's Alibaba Group
over the U.S. Internet giant's Asian assets have hit an impasse,
throwing their plans for a $17 billion tax-free asset swap into
question, according to sources briefed on the situation.
CARLYLE SAID it would sell Talaris, a provider of
cash-counting equipment, to Japan's Glory Ltd for 650
million pounds ($1 billion), twice the value of its original
INDONESIA WILL not implement a planned regulation to limit
ownership in domestic banks, since it does not want to scare
away potential foreign investors from the sale of state-owned
Bank Mutiara, the state deposit agency (LPS) said.
FIDELITY GROWTH Partners, the private equity arm of Fidelity
Worldwide Investment, along with existing investors have
invested 2 billion rupees ($40.6 million) in Aptuit Laurus Pvt
Ltd, an unlisted Indian pharma company.
EXCLUSIVE-AN Abu Dhabi sovereign wealth fund is exploring
the sale of its $1.3 billion stake in Malaysian lender RHB
Capital Bhd six months after buying the shares,
sources familiar with the matter told Reuters, and has engaged
in early talks with Japan's Sumitomo Mitsui Banking Corp (SMBC).
U.S.-BASED private asset management firm Rohatyn Group said
on Monday that it has agreed to acquire 60 percent of CapAsia,
the private equity arm of Malaysia's CIMB Group Holdings Bhd
INDIA'S RELIANCE Communications reported its 10th
straight quarter of declining profit as interest costs soared,
with investors betting on a sale of the No. 2 mobile operator's
tower business to pare its heavy debt load.