Aug 11 News and developments in Asia private
equity from Reuters News for the week ended Aug. 8.
CANADIAN PRIVATE equity firm Altas Partners LP and pan Asia
firm Baring Private Equity Asia have acquired a substantial
stake in St George's University in Grenada, the university said
A UNIT of CVC Capital Partners Ltd sold an 11.5
percent stake in PT Matahari Department Store Tbk, the
second time the private equity firm had sold a sizeable block of
shares in the Indonesian retail store operator this year.
MALAYSIAN AIRLINE System Bhd said that state
investor Khazanah Nasional will offer 27 sen for each share in
the company it does not own, amounting to nearly 1.4 billion
($435 million) to take the troubled airline private.
EQT GREATER China said it has sold Taiwan-based cable
television operator Gala TV Corp to Yung-tsai Investment Co Ltd,
an investment vehicle owned by Wang Yung-tsai, Wang Weng-Tsao
and Wong Wen-Yuan.
SHARES OF iDreamSky Technology Ltd rose as much as
27 percent in their debut, highlighting the mobile game
distributor's ability to cash in on the popularity of hit games
such as "Fruit Ninja" and "Subway Surfers" in China.
CHINA LIFE Insurance Co Ltd will buy a $250
million stake in private equity firm TPG Capital, a
source with direct knowledge of the matter told Reuters.
BARING PRIVATE Equity Asia and Singapore's GIC are
in separate talks to invest about $175 million to buy the 49
percent stake in India's PNB Housing Finance Ltd
currently held by investment firm New Silk Route, two people
with knowledge of the matter said.
LUXURY AUTOMOBILE dealer China Rundong Auto Group Ltd,
backed by private equity firm KKR & Co LP, and one of
its shareholders raised $124 million in a Hong Kong initial
public offering, according to a term sheet seen by Reuters on
MBK PARTNERS' Japanese accounting software firm Yayoi Co Ltd
has raised a 33 billion yen ($321.95 million) five-year
financing from nine banks, Basis Point reported citing sources.
WH GROUP Ltd, the world's biggest pork company,
surged 7 percent in its Hong Kong trading debut after sharply
scaling back valuations in its second attempt at an IPO.
FORMULA ONE boss Bernie Ecclestone has offered to make a
$100 million payment to end his trial on bribery charges, a
district court in Munich said, with state prosecutors saying
they would accept his offer.
AUSTRALIA'S TREASURY Wine Estates is opening its
books to KKR after the private equity giant hiked its takeover
offer to $3.15 billion, raising the prospect of a bidding war
for the world's No.2 winemaker.
THE ASIAN Development Bank, Orix Corp and
Robeco Institutional Asset Management BV said they have formed
Asia Climate Partners, a joint venture to make private equity
investments in low-carbon deals across Asia.
GLOBAL LOGISTIC Properties Ltd is to buy a 15.3
percent stake in China's largest state-owned warehouse logistics
company for 2 billion yuan ($324 million), and the two firms
will form a joint venture, aiming to tap the warehouse industry
in China amid an online shopping boom.
(1 US dollar = 102.5000 Japanese yen)
(Compiled by Stephen Aldred in Hong Kong; Editing by Subhranshu