HONG KONG Jan 28 News and developments in Asia
private equity from Reuters News for the week ending January 25.
JAPAN'S AEON Co Ltd and a unit of Thailand's
Central Group are eyeing a bid for PT Matahari Department Store
, a CVC-owned retail group in Indonesia for
which the private equity firm is seeking as much as $3.5
billion, sources familiar with the matter told Reuters.
A CHINESE mining equipment company at the centre of an
alleged accounting fraud was also involved in a web of insider
loans and asset transfers prior to its purchase by Caterpillar
Inc., public filings show.
STRUGGLING CHINESE sportswear brand Li Ning Co Ltd
said on Friday it planned to issue convertible securities worth
up to HK$1.87 billion ($241 million), seeking capital for a
restructuring plan and for business development.
BREAKINGVIEWS-TPG is running rings around
shareholders in Li Ning. The buyout firm has renegotiated the
terms of a convertible bond it bought from the Chinese sports
brand a year ago, and agreed to underwrite a deeply discounted
capital raising. The deal leaves other investors in second
ALIBABA GROUP, which runs China's largest
e-commerce platforms, and its partners will spend 100 billion
yuan ($16.08 billion) in the first phase of investment to build
a logistics network, a local newspaper reported.
INDIA'S EDUCOMP Solutions said Kaizen Private
Equity and global publisher Bertelsmann had agreed to invest
220 million rupees ($4.1 million)in the company's online
HONG KONG has come under fire for a plan to restrict public
access to corporate data, with investors and media groups
worried it will block early warning of accounting scandals like
the one that cost Caterpillar $580 million.
NEWSMAKER-FOR self-made Thai billionaire Charoen
Sirivadhanabhakdi, the takeover of Singapore's Fraser and Neave
Ltd will add legions of assets to his drinks and real
estate empire that already stretches from Southeast Asia to the
THAILAND'S THIRD-richest man is set to take control of
Fraser and Neave in Southeast Asia's biggest-ever acquisition
after a group led by an Indonesian tycoon bowed out of a
two-month bidding war for the Singapore drinks and property
NINE ENTERTAINMENT'S creditors have approved a $3.6 billion
recapitalisation scheme that will see U.S. hedge funds take
control of one of Australia's best known TV networks, paving the
way for a possible listing in 2014, a source familiar with the
CATERPILLAR UNCOVERED "deliberate, multi-year, coordinated
accounting misconduct" at a subsidiary of a Chinese company it
acquired last summer, leading it to write off most of the value
of the deal and wiping out more than half its expected earnings
for the fourth quarter of 2012.