November 26, 2012 / 1:10 AM / 6 years ago

Asia Private Equity Weekly News, November 26, 2012

HONG KONG, November 26 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending November 23.


BLACKSTONE GROUP LP and China agribusiness company New Hope Group are through to the final round of bidding for Australia’s largest poultry producer Inghams Enterprises, a deal that could be worth as much as A$1.4 billion ($1.5 billion), sources with knowledge of the matter told Reuters.

BHARTI INFRATEL Ltd, the telecommunications tower arm of India’s Bharti Airtel Ltd, is likely to launch its initial public offering to raise up to $900 million on Dec. 10, sources said, in what will be the country’s biggest IPO in two years.

AUSTRALIA’S DISCOVERY Metals told its shareholders it saw strong prospects at its key copper project in Botswana, and spelled out why it thinks they should reject a A$824 million ($856 million) offer from a Chinese bidder.


CHINA PRIVATE Equity Holdings Limited said it has entered into a memorandum of understanding with Hong Kong-headquartered asset manager Gen2 Capital Partners, which may lead to CPE acquiring some of Gen2’s assets.


FORMULA ONE boss Bernie Ecclestone said he plans to contest a $650 million damages claim filed in New York, the latest legal case to stem from the sale of the motor racing series in 2005.


INDONESIAN PRIVATE equity firm Northstar Group is expanding into take-private deals, agreeing to buy a majority stake in Singapore-listed Nera Telecommunications and offering to buy the entire company for around $146 million, in a sign of growing ambition among Asia’s private equity firms.

AUSTRALIA’S ANACACIA Capital said it has raised A$125 million ($130 million) for its second private equity fund, faster than anticipated, as investors flocked to the firm after its first fund surpassed its global peers by returns.


AUSTRALIAN SURFWEAR company Billabong International Ltd , which had potential buyers withdraw takeover offers last month, said one of its directors wanted to investigate a possible leveraged buyout of the firm.

CARLYLE GROUP and Seven Group Holdings, the owners of Australia’s largest equipment-hire firm Coates Hire, hope to sell their entire stake in the company in a deal that could fetch more than A$3 billion ($3.1 billion), sources with direct knowledge of the plans said.

SILVER LAKE’s China digital marketing company Allyes has hired Dr Hanhua Wang, former president of Amazon China, as a CEO, the two firms said in a statement.

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