HONG KONG Dec 17 News and developments in Asia
private equity from Reuters News for the week ending Dec. 14.
KKR & Co LP has jumped into the auction for the
fibre-optics business being sold by Australian contractor
Leighton Holdings Ltd, a source familiar with the
process told Reuters, eyeing a business that analysts say could
fetch as much as A$870 million ($918 million).
INDIAN TELECOMS tower operator Bharti Infratel's
share sale to raise up to $830 million was subscribed 1.3 times,
a weaker-than-hoped for response to the country's biggest
initial public offering in two years.
CREDIT RISK information provider Veda Advantage Ltd, owned
by Pacific Equity Partners and Merrill Lynch Global Private
Equity, signed an A$451.5 million ($476 million) three-year loan
with a syndicate of 10 lenders including two fund investors,
Thomson Reuters LPC reported.
BANKS PREPARING companies for listing on Hong Kong's stock
exchange will be made explicitly liable for IPO prospectuses,
although they will also have more powers to ensure that their
clients play by the rules, the city's market watchdog said.
FRANCO-BELGIAN group Dexia said it agreed the sale
of its asset management business, a move that marks the near
completion of its dismantling following its virtual collapse in
the wake of the financial crisis.
CARLYLE GROUP is selling up to $67 million of its
stake in Hong Kong-listed Kaisa Group Holdings Ltd,
according to a term sheet seen by Reuters.
U.S. BUYOUT firm Providence Equity Partners is among suitors
advancing to the second round of bidding for Leighton Holdings'
Australian fibre-optic network NextGen, sources said.
INDIA'S DEBT-LADEN Kingfisher Airlines has denied
a newspaper report that it had reached an agreement on selling a
48 percent stake to Etihad Airways.
BHARTI INFRATEL Ltd, the telecommunications tower arm of top
Indian mobile carrier Bharti Airtel, said it will allot shares
worth $120 million to cornerstone investors as part of its up to
$832 million initial public offering.
CHAMP PRIVATE Equity, Australia's oldest buyout firm, has
appointed Macquarie Capital as adviser to consider a
possible sale or float of its Golding mining services company, a
source familiar with the situation told Reuters.
SWITZERLAND-BASED Partners Group said it had closed a two
billion euro ($2.6 billion) secondaries fund, Partners Group
Secondary 2011, L.P., and the firm expects to invest more of
this fund in Asia than previous funds.
GENERAL ATLANTIC LLC said it has hired Sandeep Naik, the
former co-head of India for Apax, as managing director and head
of the firm's Mumbai office. Naik will lead GA's investment
advisory activity in India.
($1 = 0.9485 Australian dollars)($1 = 0.7628 euros)