HONG KONG Oct 1 News and developments in Asia
private equity from Reuters News for the week ending September
GLOBAL PRIVATE equity firm Apax Partners LLP is looking to
sell its 10 percent stake in Indian hospital chain Apollo
Hospitals Enterprise Ltd, three sources with direct knowledge of
the talks said, in a deal that could raise around $250 million
GLOBAL PRIVATE equity firm TPG Capital hired Credit
Suisse director and co-head of corporate finance for
Southeast Asia, Francis Woo, as a principal for its Southeast
Asia team, two sources with knowledge of the matter told
Reuters. Woo will focus mainly on deal sourcing and execution,
and reports to Ben Gray, TPG's head of Australia, Japan, Korea
and Southeast Asia.
HEINEKEN NV won full control of the maker of Tiger
beer in a S$7.9 billion ($6.4 billion) deal, ending a two-month
battle aimed at strengthening the Dutch brewer's position in
fast-growing Asian beer markets.
INSIGHT-AS a two-month battle with Heineken for control of
Tiger beer risked turning ugly, Thai billionaire Charoen
Sirivadhanabhakdi telephoned Lee Hsien Yang, chairman of
Singapore conglomerate Fraser and Neave (F&N), the
PENSION FUNDS and endowments are pressing private equity
firms hard to boost returns amid a global economic slowdown,
just as buyout executives set off on a new round of
U.S. BUYOUT firm Cerberus Capital Management LP may
sell its 55 percent stake in Japan's Aozora Bank Ltd,
the lender said, sending its shares down more than 9 percent in
their biggest one-day fall in a year.
BREAKINGVIEWS-BUYOUT firms risk alienating other
stakeholders by getting too close to a handful of major backers.
INVESCO LTD is set to buy a 49 percent stake in the
asset management unit of India's Religare Enterprises Ltd
, controlled by billionaire brothers Malvinder and
Shivinder Singh, for about 4.5 billion rupees ($84 million), a
source with direct knowledge of the deal said.
AUSTRALIA'S TOP supermarket chain Woolworths Ltd
agreed to sell its Dick Smith Electronics chain in Australia and
its Indian wholesale venture for a combined A$55 million ($56.88
million) to private equity firm Anchorage Capital Partners.
CARLYLE GROUP and Sequoia Capital China have offered
to take Chinese economy hotel chain 7 Days Group Holdings Ltd
private with its co-chairmen in a deal valued at $634.7
WOONGJIN HOLDINGS said the sale of water
purifier maker Woongjin Coway to local private
equity fund MBK Partners was "halted" after the holding company
filed for court receivership earlier on Wednesday, throwing the
$1.1 billion deal into question.
MEDIA-FOCUSED buyout firm Providence Equity Partners has
sold minority stakes in the company that manages its funds in a
deal aimed at propelling its expansion.
CARLYLE SAID it has acquired 100 percent of the outstanding
shares of Walbro Engine Management, a global small engine parts
manufacturer, from Sun Capital Partners. Terms of the
transaction were not disclosed. Equity for the investment comes
from Carlyle Japan Partners II.
INTERVIEW-BILLIONAIRE investor Wilbur Ross plans to take
part in China's first shale gas tender open to foreign investors
by teaming up Exco Resources, a U.S. natural gas firm he
holds a stake in, with a Chinese partner.
HARVEST FUND Management, China's second-largest retail fund
manager by assets, has formed a joint venture with the fund
management arm of British property developer Grosvenor to invest
in real estate in greater China, the money managers said in a
TWO MORE Asia-based private equity firms have joined the
fundraising bandwagon, seeking a combined $4.25 billion, sources
with direct knowledge of the matter told Reuters, adding to a
long list of buyout firms chasing capital in the region.
CARLYLE-BACKED Japanese ball-bearings maker Tsubaki
Nakashima Co has called off an up to $555 million initial public
offering, citing weak market conditions, marking another failed
attempt by the U.S. private equity firm to list its assets in
PRIVATE EQUITY firm Navis Capital said it has acquired 100
percent of BIG Cinemas in Malaysia from Reliance MediaWorks Ltd
for an undisclosed amount, and will merge BIG with MBO
Cinemas, which Navis acquired in April, giving it 24 cinemas and
165 screens across Malaysia.
ASIA SATELLITE Telecommunications Holdings Ltd
said its subsidiary AsiaSat had sold SpeedCast Holdings Ltd to
private equity firm TA Associates for around $32 million.