August 22, 2011 / 4:01 AM / 8 years ago

ASIA PRIVATE EQUITY WEEKLY NEWS, AUGUST 22, 2011

HONG KONG, Aug 22 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending August 20.

AUGUST 20

EXCLUSIVE-Bain Capital has agreed to buy Australian software maker MYOB for about A$1.2 billion ($1.3 billion) after Sage Group plc’s bid ran into last-minute trouble, two sources with direct knowledge of the matter told Reuters on Saturday.

AUGUST 19

BILLIONAIRE ANIL Ambani’s Reliance Communications has hired UBS to sell its 95-percent stake in tower unit Reliance Infratel and has reached out to several strategic and private-equity firms, asking for $5 billion for the stake, three sources with direct knowledge said.

SOUTH KOREA has again failed to sell its $5.1 billion stake in Woori Finance Holdings after it received only one bid proposal from a consortium led by local private equity firm MBK Partners.

MARKET TURMOIL has derailed software group Sage’s bid to buy Australian peer MYOB, handing rival bidder Bain Capital the chance to secure a deal in its place, people familiar with the matter said.

AUGUST 18

AN AFFILIATE of Singapore state investor Temasek is selling almost 8 percent in Thai telecoms firm Shin Corp for $306 million, which will bring the free float of the company closer to the level required by Thai rules.

Shin Corp, once controlled by Thailand’s former prime minister Thaksin Shinawatra’s family, confirmed an earlier report from IFR Asia that Cedar Holdings would sell 253.5 million Shin shares at 35.5-37.25 baht per share.

ASAHI GROUP HOLDINGS is acquiring New Zealand beverage group Independent Liquor for $1.3 billion from Unitas Capital and Pacific Equity Partners, giving the Japanese brewing giant a ready-to-drink cocktail maker to add to its stash of assets in the Oceania market. `

AUSTRALIA’S OLDEST buyout firm, CHAMP Private Equity, sees big opportunities for deals after the recent market volatility, and hopes to secure an acquisition in Southeast Asia as part of its A$1.5 billion ($1.6 billion) investment fund, a top executive told Reuters.

SHARES OF Chinese online video company Tudou Holdings Ltd fell 11.9 percent in their stock market debut on Wednesday and an analyst said the deal had been overpriced.

AUGUST 17

BRITISH BUSINESS software company Sage Group Plc has been picked as preferred bidder in the auction of Australian peer MYOB Ltd, people familiar with matter said.

BRIGHT FOOD Group has agreed to buy a 75 percent stake in Australian branded food business Manassen Foods, the companies said, a deal marking the Chinese company’s biggest overseas expansion.

SOUTH KOREAN private equity firm Vogo Fund has dropped its plan to bid for a controlling stake in Woori Finance Holdings , a source with direct knowledge of the matter said.

U.S. PRIVATE equity firm Warburg Pincus LLC and venture capital firm Kleiner Perkins Caufield & Byers will jointly invest $100 million in China fashion shopping website operator Xiu.com, a source with direct knowledge of the matter told Reuters.

LOMBARD INVESTMENTS said it had completed a second exit from Thailand’s shopping mall developer Central Pattana Pcl , earning a return of 7.1 times on its initial $24 million investment, for a total return of $170 million.

AUGUST 16

BRITISH BUSINESS software group Sage has confirmed it is considering buying Australian peer MYOB Ltd, after sources familiar with the matter told Reuters it had submitted a bid.

U.S. INVESTMENT bank Goldman Sachs Group Inc and Canada Pension Plan Investment Board have decided to join private equity firm MBK Partners in a bid for Woori Finance Holdings Co Ltd , the country head of MBK Partners said.

BLACKSTONE GROUP is seeking A$431 million ($452 million) financing to back its purchase of Australia property firm Valad Property Group , Thomson Reuters Basis Point reported on Tuesday, citing bank sources.

AUGUST 15

EX GOLDMAN SACHS partner Fred Hu is a step closer to completing his first buyout deal with his fund Primavera Capital, and the first successful take-private of a Nasdaq listed China orphan stock, after shareholders approved plans for Chemspec International .

Primavera is taking Chemspec private with company CEO Jianhua Yang, backed by an underwritten $70 million loan from Standard Chartered Bank .

CHINA XD Plastics Co Ltd said Morgan Stanley Private Equity Asia will buy a “significant” minority ownership stake in the modified plastic maker for $100 million and posted strong quarterly results, sending its shares up 47 percent.

BAIN CAPITAL and Kohlberg Kravis Roberts & Co have placed final bids for Australian software company MYOB Ltd, an asset which could be sold for over A$1 billion ($1 billion), two sources familiar with the matter told Reuters.

Compiled by Stephen Aldred; Editing by Jonathan Hopfner

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below