June 23 News and developments in Asia private
equity from Reuters News for the week ended June 20.
BUYOUT FIRMS TPG Capital and Carlyle Group
are targeting a $2.4 billion initial public offering of shares
in Australia's Healthscope Ltd as their most-favoured option for
the country's second-biggest private hospitals operator, a
source with direct knowledge of plans told Reuters.
SHARES IN Mantra Group Ltd, Australia's
second-largest hotel company, listed at a 2.8 percent premium to
their issue price when they debuted on the country's stock
exchange on Friday.
DEALTALK -A little over a month ago, a Texas power utility
at the centre of the biggest leveraged buyout in history filed
for bankruptcy, sunk by billions of dollars of debt that it took
on after being acquired by a trio of top private equity names in
ELEVEN LENDERS have funded an around A$830 million ($780.12
million) dual-currency post-IPO refinancing for Australian
services firm Spotless Group, Basis Point reported
SWISS-BASED hedge fund group Gottex Fund Management Holdings
is targeting a $6.5 billion boost to its assets, around
half of which will come from acquisitions in Asia and the United
States, its chief executive said.
REUTERS INSIDER - Kathy Xu's private-equity fund, Capital
Today, was one of the first investors in Nasdaq-listed
e-commerce giant JD.com Inc, reaping massive returns.. (reut.rs/UxYO8O)
WITH AN iron grip, JD.com founder Richard Liu has dragged
China's number two online retailer from a Beijing backwater to a
rich New York listing. Beyond the wealth that brought him lies
Liu's next target - beating Jack Ma's Alibaba.
SEVEN BANKS led by UBS AG and Bank of America
Merrill Lynch have underwritten a term loan B covenant lite
financing package for private equity giant TPG's acquisition of
global real estate services unit DTZ, Basis Point reported
INDIA'S RATNAKAR Bank Ltd plans to launch an
initial public offering of shares worth up to $250 million in
the first quarter of next year, three sources directly involved
in the process said.
HONG KONG-listed investment firm Kai Yuan Holdings Ltd
, which has interests from steelmaking to real estate,
has agreed to buy the Paris Marriott Hotel Champs-Elysees for
344.5 million euros ($469 million).
AUSTRALIAN ENGINEERING services company UGL Ltd
confirmed the cash sale of its property arm to a consortium of
TPG, PAG Asia Capital and Ontario Teachers' Pension Plan for
A$1.215 billion ($1.14 billion).
CVC CAPITAL Partners and the founder of investee
company, Education International Corp Group Ltd (EIC), said that
Isa Wong has joined EIC as CEO. Wong, who will be based in
Beijing, joins EIC from Pearson, where she was most recently
president of the Greater China business. (bit.ly/Uy153K)
($1 = 1.0639 Australian Dollars)
(Compiled by Stephen Aldred in Hong Kong; Editing by Subhranshu