HONG KONG May 21 News and developments in Asia
private equity from Reuters News for the week ending May 18.
THE PRIVATE EQUITY OWNERS of India's Lilliput Kidswear got a
call last September, less than two weeks after an IPO plan was
approved, that set off a chain of events that could wipe out
CARLYLE GROUP is in talks to sell its stake in
Taiwan's Ta Chong Bank to Yuanta Financial
in a deal worth up to T$37 billion ($1.25 billion), two sources
familiar with the situation said.
AUSTRALIAN PRIVATE equity fund Pacific Equity Partners (PEP)
has approached potential buyers for its share-registry business
Link Group, kickstarting an auction that could value the company
at as much as A$1.4 billion ($1.4 billion) including debt,
ASIA'S PRIVATE equity funds are moving closer to North
American and European peers in key areas, but despite a tight
fundraising climate they still charge higher management fees
than their global peers, a new survey has found.
THE SUSPENSION of U.S. sanctions barring investment in
Myanmar in response to political reforms in the poor Southeast
Asian state opens the door to U.S. companies queuing to scout
for business in one of the last frontier markets.
L CAPITAL Asia, a private equity fund backed by LVMH
, said it has appointed retail industry veteran Uday
Mehra as managing director.
THE PLANNED $1.5 billion listing of Malaysia's Integrated
Healthcare Holdings (IHH) is expected to debut on the Malaysian
and Singapore bourses by the end of July, two sources with
direct knowledge of the matter told Reuters.
INDIAN DRUGMAKER Piramal Healthcare is buying
U.S.-based healthcare data provider Decision Resources Group
from Providence Equity Partners for $635 million to boost
research and development, in the biggest outbound acquisition by
an Indian company in over six months.
AUSTRALIA'S BRAMBLES Ltd has held discussions with
document destruction company Shred-it about selling its U.S.
information management business, after private equity firms did
not meet its $2 billion-plus valuation expectations, according
to several people familiar with the matter.
AUSTRALIAN UNDERWEAR manufacturer Pacific Brands
said takeover talks with suitors including KKR & Co have
ended without an offer being made, sending its shares down
nearly 10 percent, as the dour retail outlook put off buyers.
CHINA RESOURCES Group-backed real estate investment fund
Harvest Capital Partners Ltd said that its CEO, Rong Ren, who
has been with the company since 2005, has resigned.
AUSTRALIA AND New Zealand auto parts supplier Exego Group
Pty Ltd has signed a A$295 million loan, to refinance a loan
that Unitas Capital used to complete a buyout of the company in
2006, Thomson Reuters LPC reported.