Aug 18 News and developments in Asia private
equity from Reuters News for the week ended Aug. 15.
SINGAPORE SOVEREIGN wealth fund GIC said it
acquired an 18.5 percent stake in Brazilian education services
company Abril Educacao SA.
A MEDIA firm Alibaba Group Holding Ltd IPO-BABA.N recently
bought said a review of its finances revealed possible
accounting irregularities, casting doubts on the Chinese
e-commerce giant's due diligence as it prepares for a U.S.
initial public offering.
TPG CAPITAL Management LP has agreed to purchase a
majority stake in Sri Lanka's Union Bank of Colombo Plc
for $113 million in the country's biggest buyout deal.
AAC CAPITAL UK is looking to sell kettle safety firm Strix
in a deal that could value the company at $500 million and draw
interest from other private equity firms and Chinese buyers,
three sources familiar with the matter told Reuters.
JAPANESE PROPERTY developer Mori Trust Co is in final talks
to buy a complex of buildings in Tokyo from U.S. buyout firm
Lone Star for more than 100 billion yen (about $1 billion), five
people with knowledge of the matter said.
A GOLDMAN Sachs Group Inc unit is a final bidder for
a Tokyo office tower in a deal that could fetch about 165
billion yen ($1.6 billion), said people familiar with the deal,
which could be the biggest office property deal in six years.
CHINESE SPORTSWEAR maker Li Ning Co Ltd said it
made a first-half net loss of nearly $100 million, much wider
than a year earlier, as it soaked up one-off charges and the
cost of opening more stores amid fierce competition in the
GULF OF Mexico deepwater oil explorer Venari Resources LLC
said it had raised $1.3 billion from original backers Warburg
Pincus LLC, Kelso & Co, the Jordan Company and Temasek
Holdings, as well as new investors.
GOODPACK LTD said that shareholders approved the
acquisition of all issued and paid-up ordinary shares in the
company by IBC Capital Ltd, a wholly-owned subsidiary of funds
affiliated with and advised by KKR & Co LP.
SOUTH KOREAN aluminium and food can maker Dongwon Systems
Corp said it has agreed to buy bottle maker Techpack
Solutions Co Ltd for 250 billion won ($243 million) from
Asia-Pacific private equity fund MBK Partners.
SOUTH KOREA'S YG Entertainment Inc said it is
considering selling a stake in itself or various other forms of
securing investment or partnerships from third parties, but
nothing has been decided.
A KKR & Co-led takeover of Australia's Treasury Wine Estates
Ltd would likely lead to a long and drastic overhaul,
resulting in a much smaller but more profitable company, bankers
familiar with the matter said.
CARLYLE GROUP has bought a minority stake in Chinese
online and mobile-based classified advertising business
Ganji.com, the global private equity firm said.
NEW ZEALAND'S two biggest Maori commercial groups have
joined forces to buy one of the country's major bus operators in
a further example of their growing financial strength.
A SATELLITE internet provider serving U.S. and Australian
troops in Afghanistan and air crash investigators in Ukraine
made a strong debut in Sydney trading, with the firm saying
increasing incidence of "man-made disasters" would bolster its
LUXURY AUTOMOBILE dealer China Rundong Auto Group Ltd
, backed by KKR, fell as much as 16 percent in its Hong
Kong trading debut.
LAW FIRM Dechert LLP said it has opened an office in
Singapore which will initially focus on investment fund
formation with Dean E. Collins as office managing partner. (bit.ly/1p2gzJv)
TWO GLOBAL private equity giants are set to face off in a
battle for Australia's Treasury Wine after TPG matched a $3.1
billion move from KKR for one of the world's biggest wine
CVC CAPITAL Partners has agreed to sell kimchi
refrigerator maker WiniaMando Inc for around 150 billion won
($144.73 million) to South Korea's Hyundai Green Food Co, a
Hyundai spokeswoman said.
A CONSORTIUM including South Korea's National Pension
Service and gas seller E1 Corp has been chosen as
preferred bidder to buy a $540 million stake in US-based shale
gas transport firm Cardinal Gas Services, NPS and E1 officials
(Compiled by Stephen Aldred in Hong Kong; Editing by Subhranshu