HONG KONG, September 9 News and developments in
Asia private equity from Reuters News for the week ending Sept.
KKR & CO LP is set to gain preferential negotiating
rights for a majority stake in Panasonic Corp's
healthcare unit, sources familiar with the matter said, a
potential $1.5 billion deal that would mark the U.S. firm's
largest investment in a Japanese company.
BREAKINGVIEWS-AMC is inviting investors to an initial public
offering with back-row seats and no chance of buttered popcorn.
The U.S. cinema chain filed for an IPO a year to the day after
being bought by Chinese real estate group Wanda for $2.7
billion. The combination of heavy debts, a quick part-exit by
the new owners and dubious governance makes for a poor showing.
MICLYN EXPRESS Offshore Ltd said it had received a
takeover offer from private equity firms CHAMP Private Equity
and Headland Capital Partners, which own a combined 75.2 percent
of the company.
JAPAN'S SUNTORY Beverage & Food Ltd is in advanced
talks to buy the Lucozade and Ribena brands from GlaxoSmithKline
for more than 1 billion pounds ($1.6 billion) in a deal
that would pre-empt an auction of the iconic British drinks, two
people close to the process said.
FOCUS MEDIA Holding Ltd, a Chinese display advertising
company backed by Carlyle Group and other private equity
firms, plans to return to the loan market with a
recapitalisation plan of up to $500 million, according to
sources familiar with the matter.
PRIVATE EQUITY asset manager Hamilton Lane has closed its
third secondary private equity fund, Hamilton Lane Secondary
Fund III LP. The fund closed at its original hard cap of $900
INTERVIEW-OIL-RICH Kazakhstan, merging its private pension
funds into a state-run entity, plans to invest 20 percent of the
assets abroad in 3 to 5 years, its central bank governor,
Grigory Marchenko, said in an interview.
U.S.-LISTED China Hydroelectric Corp said it had
received a go-private proposal from Hong Kong-based private
equity firm NewQuest Capital Partners. NewQuest owns 49.8
percent of China Hydro, but options and warrants could increase
that to 56.8 percent.
INDIA'S FUTURE Ventures is in talks to sell its 65
percent stake in entertainment and education company ACK Media
for about $25-$29 million, two sources with direct knowledge of
the matter told Reuters.
EXPERT NETWORKS - a matchmaking service that connects
investors with industry experts - are under scrutiny from
regulators in the United States, but are expanding across Asia
where the market for corporate intelligence is less transparent.
ACTIVIST HEDGE fund Starboard Value LP said it is working
with investors interested in paying "substantially" more for
Smithfield Foods Inc than the price China's Shuanghui
International Holdings Ltd had agreed to.
CITIGROUP INC said it will sell a $4.3 billion private
equity fund, known as Citi Venture Capital International, for an
undisclosed price to investment firm Rohatyn Group.
CHINA'S BRIGHT Food (Group) Co Ltd is in talks
on the possible acquisition of Tnuva, Israel's biggest food
manufacturer and distributor, in a deal one newspaper said could
be worth around $1.6 billion.
CHINESE-ITALIAN private equity fund Mandarin Capital has
sold its 7.57 percent stake in packaging machinery company IMA
at 18.6 euros per share, two traders told Reuters on
JAPAN'S PUBLIC pension fund, the world's biggest, has
selected eight asset fund companies to actively manage $159
billion in foreign equities in its massive portfolio aimed at
raising higher returns to cope with a rapidly ageing population.
INDONESIA'S INDOFOOD, one of the world's biggest instant
noodle makers, launched a takeover offer for China Minzhong
that values the food producer at S$734 million ($575
million), just days after an attack by a short-seller eroded
almost half of the Chinese firm's market value.
U.S. HEDGE fund Coastal Capital joined debt specialists
circling Billabong International Ltd, seeking a board
spill, as rival investors eye the proceeds from a potential debt
restructure rather than equity from a long-term turnaround.
PRIVATE EQUITY firm Resource Capital Partners said it has
held a first close at $85 million on a new $350 million global
fund targeting mining transactions, with a particular emphasis
on North America, Central Asia and Latin America.
ANTHEM ASIA, a private investment and advisory group, said
it is investing up to $1 million in an executive serviced office
centre in downtown Yangon, Myanmar, the first of a planned
network of Hintha Business Centres.