HONG KONG Dec 10 News and developments in Asia
private equity from Reuters News for the week ending Dec. 7.
ITALIAN INVESTMENT fund Investindustrial said it bought a
37.5 percent stake in Aston Martin for 190 million euros and
that the British sportscar maker will invest 625 million euros
to make new car models in the next five years. Indian tractor
maker Mahindra and Mahindra had been in talks to
invest in the iconic sportscar brand.
THREE EX-CITIGROUP bankers who raised $1 billion to
invest in pan-Asia financial services have closed the fund after
a string of setbacks and the region's failure to deliver
hoped-for bargains in the aftermath of the global financial
INDIAVENTURE ADVISORS, a private equity fund owned by Indian
drugmaker Piramal Enterprises, plans to raise up to 10
billion rupees ($185 million) for a new fund that will invest in
health care and education, its chairman said.
HEADLAND CAPITAL Partners said it has acquired a 96.5
percent equity shareholding in South Korea toy maker YoungToys
Inc through Headland Private Equity Fund 6 L.P.
SPEEDCAST LTD, a Hong Kong company backed by private equity
firm TA Associates, said it has completed the buyout of
Australian Satellite Communications Pty Ltd.
A CONGLOMERATE controlled by Thailand's richest man has
bought a minority stake in China's Ping An Insurance
for $9.38 billion from global bank HSBC, a bold move
that ranks as Asia's second-largest deal this year.
BLACKSTONE GROUP LP is starting a new real estate
fund focused on Asia as it seizes on a "golden moment" to buy
and sell in the property market, its president said.
BAIN CAPITAL's Australian accountancy software company MYOB
said it had increased its five-year subordinated notes issue to
A$150 million ($157.34 million) due to demand from institutional
investors during bookbuilding.
THE HUSBAND of the employee sacked by China's Hua Xia Bank
Ltd for allegedly selling wealth management products
without authorisation said his wife had been made a scapegoat to
deflect the bank's responsibility for the failed products, local
media reported on Wednesday.
NEW OWNERS of Australia's Nine Entertainment television
network, including Oaktree Capital and Apollo Global
Management, are turning to the U.S. term loan B markets
for a $700 million deal to recapitalise the company as it
emerges from a debt-to-equity swap, Thomson Reuters LPC reported
FRANCO-BELGIAN group Dexia SA is in talks with
Hong Kong-based GCS Capital on a disposal which will mark the
near completion of its dismemberment following its virtual
collapse in the wake of the financial crisis.
INDIAREIT FUND Advisors said it raised 4.4 billion rupees
($80.48 million) by selling three of its investments and expects
to raise another $120 million through more exits in the near
AUSTRALAND PROPERTY Group has agreed to sell 111
Darlinghurst Road, Kings Cross, for $65 mln,
approximately 7 percent below the group's carrying value for the
asset as at 30 June 2012.
NETWORK18 MEDIA & Investments will sell its
shareholding in news provider Newswire18, the company said, in a
deal worth 900 million rupees ($16.6 million).