HONG KONG Jan 14 News and developments in Asia
private equity from Reuters News for the week ending January 11.
PRIVATE EQUITY firms including Singapore state investor
Temasek Holdings and KKR & Co are separately in
advanced talks to buy Warburg Pincus LLC's majority
stake in Indian tyre maker Alliance Tire Group for about $400
million, three sources with direct knowledge of the matter said.
CHINA'S INSURANCE regulator is seeking more information from
Ping An Insurance after reviewing HSBC's
planned sale of its $9.4 billion stake in
China's No.2 insurer to Thailand's CP Group.
PRIVATE EQUITY firm CVC is in exclusive talks to
buy a majority stake in SPi Global Holdings, a business
outsourcing unit of Philippine Long Distance Telephone Co
, for about $320 million including debt, a source
familiar with the matter told Reuters.
THE $1.525 BILLION financing backing the $3.7 billion buyout
of Nasdaq-listed Chinese display advertising company Focus Media
Holding Ltd has been launched to senior syndication,
Thomson Reuters Basis Point reported, citing sources.
KKR HAS invested an additional $200 million in Vietnam's
noodle and fish sauce retailer Masan Consumer Corp in the
largest single private-equity investment in the Southeast Asian
CHINA, UNDER pressure to improve the quality of its IPOs,
will tell underwriters and auditors of companies looking to list
on mainland markets to review their financial statements and
ensure that all is in order, sources with knowledge of the plan
SHARES IN United Envirotech Ltd jumped as much as
14.6 percent to their highest in eight years, after KKR agreed
to make a $40 million follow-on investment in the China-focused
water treatment and recycling company.
EMERGING MARKETS-focused private equity firm Actis Capital
said it had acquired a significant minority stake in China
medical equipment maker Nanjing Micro-Tech, but did not disclose
INDUSTRIAL & COMMERCIAL Bank of China Shanghai is arranging
a four-year $482 million-equivalent loan for TPG Capital's
UniTrust Finance & Leasing Corp, Thomson Reuters Basis Point
reported, citing sources.
BLACKSTONE GROUP said it had hired Gautam Banerjee as
its Singapore chairman and to join its international advisory
board. Banerjee is the former executive chairman of
CARLYLE GROUP sold its remaining stake in China's
No.3 insurer CPIC in a deal valued at $793 million,
exiting the business with its largest dollar profit on an
HSBC's SALE of its $9.4 billion stake in Ping An Insurance
to Thailand's CP Group has been thrown into jeopardy after
state-run China Development Bank voiced concerns over
funding for the deal, sources told Reuters.
MALAYSIA-BASED private equity firm Navis Capital Partners,
which has over $3 billion in assets under management, said it
has completed an investment through Panga Hold Co Pte Ltd into
Vietnamese seafood processing company Go Dang Joint Stock Co,
but did not give further details.
CERBERUS CAPITAL Management LP plans to sell up to
148 billion yen ($1.7 billion) of shares in Aozora Bank Ltd
in a global offering that the Japanese bank said would
cut the U.S. buyout firm's stake to 7.7 percent from 58 percent.
PROVIDENCE EQUITY Partners-backed Hong Kong broadcaster TVB
is seeking a High Court review that could delay or block new
free-to-air licences for three rival firms, local Hong Kong
NAVIS CAPITAL said that, together with Rabo Capital N.V., it
had sold Thai duck processor Bangkok Ranch and its Dutch
subsidiary Duck To Holdings for Baht 5.7 billion ($188.24
million), with the two investors netting around 1.9 times their
CHINA PLANS to allow eligible securities houses and
insurers' asset management units to develop and manage mutual
funds in a bid to reinvigorate an industry struggling to produce
returns for investors.