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Asia Private Equity Weekly News, Sept. 1, 2014
September 1, 2014 / 4:01 AM / 3 years ago

Asia Private Equity Weekly News, Sept. 1, 2014

Sept 1 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending Aug. 29.

AUGUST 29

MORI TRUST Co has bought a Tokyo wedding venue and office complex from U.S. investment fund Lone Star for around 130 billion yen ($1.25 billion), a source with knowledge of the matter said, in another sign the property market is recovering.

VIRGIN AUSTRALIA Holdings Ltd said it had entered into an agreement to sell 35 percent of its frequent flyer programme to Affinity Equity Partners in a deal which gives the programme an enterprise value of A$960 million ($897.5 million).

AUGUST 28

JAPAN‘S SKYLARK Co Ltd will list on the Tokyo Stock Exchange on Oct. 9 in an initial public offering worth up to $1.1 billion, marking the restaurant operator’s return to the market three years after it was taken private by Bain Capital.

CHINA HUARONG Asset Management Co Ltd, the country’s biggest bad-debt manager, said regulators have approved a deal for it to sell a 20.98 percent stake to a consortium of eight investors for 14.5 billion yuan ($2.4 billion).

HONY CAPITAL, one of China’s biggest private equity firms, has agreed to buy a 15 billion yuan ($246 million) stake in Shanghai Jin Jiang International Hotels Development Co , the hotel company said.

AUSTRALIA‘S LARGEST buyout firm Pacific Equity Partners said it had sold down its stake in newly listed credit rating company Veda Group Ltd, making a A$243 million ($227.4 million) profit on share gains over eight months.

HONY WILL sell a tranche of over $500 million of shares in CSPC Pharmaceutical Group Ltd for the second time in three months, cashing in on the drugmaker’s buoyant stock.

AUGUST 27

CARLYLE GROUP is in advanced talks with China Vanke Co Ltd, the country’s largest property developer, to buy stakes in nine of its shopping malls, two people with direct knowledge of the matter told Reuters.

AUGUST 26

KKR & Co LP has made its fourth food safety-linked investment in China, agreeing to buy 18 percent of chicken producer Fujian Sunner Development Co Ltd for $400 million, the two firms said.

KKR SAID it has hired Jaka Prasetya as managing director to lead the firm’s credit and special situations initiatives in Southeast Asia, as it expands its credit lending strategy in the region.

AUGUST 25

TAIWAN‘S WEI family has agreed to buy majority control of China Network Systems, the island’s biggest cable TV operator, for about $2.4 billion including debt from private equity firm MBK Partners, sources with direct knowledge of the matter said.

$1 = 1.0696 Australian dollar Compiled by Stephen Aldred in Hong Kong; Editing by Anand Basu

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