Asia Private Equity Weekly News, December 10, 2012

HONG KONG Mon Dec 10, 2012 6:41am IST



HONG KONG Dec 10 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending Dec. 7.


ITALIAN INVESTMENT fund Investindustrial said it bought a 37.5 percent stake in Aston Martin for 190 million euros and that the British sportscar maker will invest 625 million euros to make new car models in the next five years. Indian tractor maker Mahindra and Mahindra had been in talks to invest in the iconic sportscar brand.

THREE EX-CITIGROUP bankers who raised $1 billion to invest in pan-Asia financial services have closed the fund after a string of setbacks and the region's failure to deliver hoped-for bargains in the aftermath of the global financial crisis.

INDIAVENTURE ADVISORS, a private equity fund owned by Indian drugmaker Piramal Enterprises, plans to raise up to 10 billion rupees ($185 million) for a new fund that will invest in health care and education, its chairman said.

HEADLAND CAPITAL Partners said it has acquired a 96.5 percent equity shareholding in South Korea toy maker YoungToys Inc through Headland Private Equity Fund 6 L.P.


SPEEDCAST LTD, a Hong Kong company backed by private equity firm TA Associates, said it has completed the buyout of Australian Satellite Communications Pty Ltd.


A CONGLOMERATE controlled by Thailand's richest man has bought a minority stake in China's Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia's second-largest deal this year.

BLACKSTONE GROUP LP is starting a new real estate fund focused on Asia as it seizes on a "golden moment" to buy and sell in the property market, its president said.

BAIN CAPITAL's Australian accountancy software company MYOB said it had increased its five-year subordinated notes issue to A$150 million ($157.34 million) due to demand from institutional investors during bookbuilding.

THE HUSBAND of the employee sacked by China's Hua Xia Bank Ltd for allegedly selling wealth management products without authorisation said his wife had been made a scapegoat to deflect the bank's responsibility for the failed products, local media reported on Wednesday.

NEW OWNERS of Australia's Nine Entertainment television network, including Oaktree Capital and Apollo Global Management, are turning to the U.S. term loan B markets for a $700 million deal to recapitalise the company as it emerges from a debt-to-equity swap, Thomson Reuters LPC reported citing sources.


FRANCO-BELGIAN group Dexia SA is in talks with Hong Kong-based GCS Capital on a disposal which will mark the near completion of its dismemberment following its virtual collapse in the wake of the financial crisis.

INDIAREIT FUND Advisors said it raised 4.4 billion rupees ($80.48 million) by selling three of its investments and expects to raise another $120 million through more exits in the near future.

AUSTRALAND PROPERTY Group has agreed to sell 111 Darlinghurst Road, Kings Cross, for $65 mln, approximately 7 percent below the group's carrying value for the asset as at 30 June 2012.


NETWORK18 MEDIA & Investments will sell its shareholding in news provider Newswire18, the company said, in a deal worth 900 million rupees ($16.6 million).

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