HONG KONG, August 27 News and developments in
Asia private equity from Reuters News for the week ending Aug.
BARING PRIVATE Equity Asia has agreed to buy a controlling
stake in Indian outsourcing service provider Hexaware
Technologies Ltd for about $420 million, underscoring
the potential for growth in the country's showcase information
TOSHIBA CORP, U.S. private equity firm KKR & Co LP
and a consortium including Bain Capital are expected to
participate in the final round of bids next week for Panasonic
Corp's healthcare business, a deal that could fetch as
much as $1.5 billion, sources with knowledge of the matter said.
U.S. HEDGE funds Oaktree Capital Management and
Centerbridge Partners sweetened their refinancing proposal for
surfwear company Billabong International Ltd, upping
the ante against a rival group led by Altamont Capital Partners.
BAIDU INC, China's largest search engine provider,
will acquire a stake in Chinese group-buying website Nuomi
Holdings Inc for $160 million as it accelerates its push into
the country's rapidly growing mobile Internet market.
CHINESE HOME appliance retailer Suning Commerce Group Co Ltd
said it aims to set up a private bank, more than a
week after Beijing unveiled plans to establish more financial
institutions to support cash-starved smaller firms.
KV ASIA Capital, a Singapore headquartered private equity
firm founded by Karam Butalia, the former global head of
Standard Chartered Bank's private equity unit, said it
has raised a maiden fund of $263 million to invest in Southeast
ANALYSIS-THE world's biggest sovereign wealth funds may see
their bumper profits of 2012 diminish this year as recent
diversification into high-growth emerging markets starts to
produce disappointing returns.
JAPAN AND Greater China focused buyouts fund the Longreach
Group said it had agreed to buy 100 percent of Japan's Hitachi
Via Mechanics Limited, a maker of micro-drilling machines for
printed circuit boards, for an undisclosed sum. ()
NEW CHINA Trust, which was leading a consortium of Chinese
investors in a $4.8 billion bid for American International Group
Inc's aircraft-leasing unit, pulled out of the deal in
May, a person familiar with the situation said.
CHINA PRIVATE Equity Investment Holdings said it will invest
$1 million into Adamas Asset Management HK Limited' s planned
$275 million Greater China Credit Fund LP, which will provide
financing to small and medium-sized companies in China.
KKR SAID it has formed a company to provide loans to the
maritime industry, including offshore oilfield services and
CHINA CINDA Asset Management Corp, one of four companies set
up in the late 1990s to manage China's bad loans, has filed an
application with the Hong Kong stock exchange for a proposed $2
billion initial public offering, IFR reported.
CITIC CAPITAL, in a consortium with Oriza Holdings and China
Merchants Group, has acquired a stake of not more
than 25 percent in express delivery services firm, S.F. Express
Group Co. CITIC Capital did the deal through its first RMB fund,
CITIC Capital Tianjin Equity Investment Partnership. ()
BLACKSTONE GROUP'S real estate arm has offered to buy
Hong Kong-listed construction firm Tysan Holdings Limited
for $322.6 million, according to a regulatory filing.
JAPAN'S MITSUI & Co and U.S. private equity firm
Carlyle Group have submitted preliminary bids for Quality
Healthcare Medical Services, which is being sold by India's
Fortis Healthcare and is valued at around $300
million, people familiar with the matter said.
AUSTRALIA AND New Zealand Banking Group said Andrew
Geczy from Lloyds Banking Group will become chief executive of
its international and institutional banking division, a key
position as ANZ seeks to bolster growth in Asia and other
AUSTRALIA'S NINE Entertainment, majority owned by Apollo
Global Management and Oaktree, has hired Macquarie,
Morgan Stanley and UBS to manage an up to A$1
billion ($920 million) IPO, slated for later this year or early
next year, IFR reported.
CHINA SPORTWEAR company Exceed Co Ltd said it had
received a going-private proposal from its chairman and chief
executive officer, Shuipan Lin, and investors including funds of
New Horizon Capital.
SIX BANKS have joined the $250 million five-year amortising
tranche of the $330m financing backing the buyout of China-based
software and IT firm AsiaInfo Linkage Inc, Basis Point reported
ORRICK, HERRINGTON & Sutcliffe LLP said it had hired Edward
Johnson as a partner in its M&A and private equity practice
based in its Tokyo office. ()
SEQUOIA CAPITAL, a venture-capital firm known for
early-stage investments in companies such as Google Inc
, has raised $1.17 billion for three different funds,
according to regulatory filings. Its China Venture Fund totals
$391.4 million, including two affiliated funds.