HONG KONG, March 4 |
HONG KONG, March 4 (Reuters) – News and developments in Asia
private equity from Reuters News for the week ending March 1.
MARCH 1
A CONSORTIUM led by Carlyle Group and company
management has reached a deal to take Chinese economy hotel
chain 7 Days Group Holdings Ltd private, after raising
its bid by 9 percent to $688 million.
CARLYLE SET guidance on the 20.3 billion yen ($217.24
million) IPO for Japanese automotive industry systems supplier
Broadleaf at 1,040 to 1,080 yen, IFR reported.
TETRAD VENTURES, a vehicle for Singapore’s GIC Private
Equity, sold its entire holding of 94.2 million shares in
vegetable processor China Min hong Food Corp,
equivalent to a 14.4 percent stake in the company, in a S$105.5
million ($85.10 million) trade, IFR reported.
FEB 28
BLACKSTONE GROUP LP is driving the migration of
private equity money into India’s commercial real estate after
the global financial crisis cooled the country’s once-ardent
residential segment and the number of unsold new homes surged.
THOUSANDS OF retail investors in the Chinese city of Tianjin
say they were tricked out of more than $500 million by sellers
of illegal wealth management products – part of a growing
problem stemming from China’s rush to develop its private equity
sector.
BRITISH PRIVATE equity firm Apax Partners LLP raised $90.2
million after selling a 4.2 percent stake in India’s Apollo
Hospitals Enterprise Ltd through blocks of shares, a
source with knowledge of the sale told Reuters.
HONG KONG buyouts firm AID Partners, an investor in Legend
Entertainment which co-produced the Batman trilogy and Superman,
said it had bought British music and video retailer HMV’s
Hong Kong and Singapore operations for an undisclosed
amount.
ARCHER CAPITAL has agreed to buy the aged care business of
Lend Lease for A$270 million, Lend Lease said in a
statement.
TENCENT HOLDINGS, China’s biggest online gaming
and social networking company, has set up a joint venture with
Indonesia’s biggest media group PT Global Mediacom to
tap the country’s growing social media market.
KKR CO LP has agreed to charge Washington State
Investment Board a low 1 percent management fee on the pension
fund’s $250 million follow-on commitment to KKR North American
Fund XI LP, which has struggled to meet its $8 billion
fundraising target, Thomson Reuters publication Buyouts
reported.
XINYI GLASS Holdings said it was starting
preparation work for the possible spin-off and separate listing
of its solar glass unit. The company cancelled a $150 million
spin-off plan in 2011, before announcing plans to raise HK$1.39
billion ($179 million) from hedge fund Och- iff.
FEB 27
NEW YORK-based OrbiMed Advisors plans to launch its second
pan-Asia healthcare fund towards the end of 2013, setting aside
$500 million to invest in the fast-growing markets of India,
China and other Asian countries.
BARING PRIVATE Equity Asia is selling Payroll Inc, a payroll
outsourcing company worth about $50 million it acquired in 2008,
Basis Point reported citing sources.
FEB 26
SINGAPORE SOVEREIGN wealth fund GIC cut its stake
in warehouse operator Global Logistic Properties (GLP)
by about a quarter, selling around 596 million GLP shares at
S$2.60 each to raise around $1.25 billion, according to a term
sheet seen by Reuters.
FEB 25
CHENIERE ENERGY PARTNERS, the only company licensed
to export U.S. natural gas to major importers overseas, said it
was raising $372.2 million to help build a gas liquefaction
facility, by selling common units to investors including RRJ
Capital and Blackstone’s GSO Capital.
LONDON-LISTED private equity firm Origo Partners
said it has formed joint venture company with Myanmar’s Serge
Pun Associates, to invest in natural resources and other
sectors in Myanmar.
INDIA’S PRIVATE equity backed Ratnakar Bank, whose top ranks
are filled with pros from Wall Street banks, has expanded its
business into India’s poor, rural areas, a tough market long
neglected by the country’s financial groups.
CLSA CAPITAL Partners said it has invested $10 million into
China water membrane maker Scinor Water Limited.
Asia Private Equity Weekly News, March 4, 2013
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