July 22, 2013 / 1:21 AM / 4 years ago

Asia Private Equity Weekly News, July 22, 2013

July 22 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending July 19.


BLACKSTONE GROUP and MBK Partners plan Singapore initial public offerings for assets the private equity companies separately own in Taiwan and India, sources said.

AUSTRALIA‘S TAKEOVER regulator declined a request from Oaktree Capital Management and Centerbridge Partners to delay a $359 million refinancing deal surfwear for company Billabong International Ltd on anti-trust concerns.


A consortium led by P3 Investments bidding for a 90 percent stake in American International Group Inc’s aircraft leasing unit, International Lease Finance Corp, is in talks to reduce its loan to about $1 billion from $1.5 billion, Basis Point reported citing sources.


BLACKSTONE GROUP has agreed to buy a majority stake in Indian auto parts maker Agile Electric Works, which controls Igarashi Motors, for about $100 million, two sources with direct knowledge of the matter told Reuters.

FORMULA ONE Chief Executive Bernie Ecclestone has been indicted in Germany in a case relating to the sale of a stake in the motor racing business eight years ago, a spokesman for a Munich court said. Ecclestone is accused of bribing a German banker to ensure that BayernLB sold the 48 percent stake to private equity firm CVC. He has denied the allegations.

CHINA‘S SECURITIES regulator has sharply downgraded its ratings for Ping An Securities, Minsheng Securities and Nanjing Securities in the latest example of how Beijing is trying to clean up the country’s financial industry.

STRATEGIC ADVISORY firm Blackpeak has opened a Guangzhou office, to support its existing Shanghai and Hong Kong offices, increasing its staff in Greater China to 15 investigators and analysts.


CHINA‘S SHUANGHUI International Holdings, which has agreed to buy U.S. pork producer Smithfield Foods Inc for $4.7 billion, plans to list the combined company in Hong Kong after completing the takeover, people with knowledge of the matter told Reuters.

BILLABONG WILL sell its DaKine clothing and accessories brand and jettison Chief Executive Launa Inman as part of a A$395 million ($359 million) refinancing deal with a former private-equity suitor.

EXS CAPITAL Ltd, an Asia-focused alternative investment group, said it had led a $37 million investment into Vietnamese real estate developer Son Kim Land.


VINGROUP JOINT Stock Company, Vietnam’s largest private-sector real estate operator, said it had closed the first $150 million of the transaction for its strategic partnership with a Warburg Pincus-led consortium.

VIETNAM-FOCUSED private equity firm Mekong Capital said Chad Ovel, formerly CEO of AA Corp, had joined the firm as a partner, the first new partner in the firm since it was established in 2001 by Chris Freund.

TURNAROUNDS AND restructuring firm Alvarez & Marsal said it had hired Yansong Xue and Bing Liu as directors for its operations in Beijing as part of an expansion plan.

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