Asia Private Equity Weekly News, March 11

TONGYANG Life Insurance

11/03/2013 03:29

HONG KONG, March 11 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending March 8.

MARCH 8

EXCLUSIVE-CVC Capital Partners  CVC.UL  has secured about $200 million in initial pledges from cornerstone investors, including Och-Ziff Capital Management Group LLC  OZM.N  and asset manager Schroders, for its up to $1.5 billion share offer in Indonesian retailer PT Matahari Department Store, sources with direct knowledge of the matter said.  ID:nL4N0C00BR

KKR & CO LP  KKR.N , Carlyle Group LP  CG.O , Bain Capital and other private equity firms urged Japan's government on Friday to shrink the role of state-backed funds, saying they could squeeze out opportunities for private capital and delay restructuring for troubled companies.  ID:nL4N0C059N

CHINA CITIC Bank and Hang Seng Bank have joined the $1.525 billion financing backing the around $3.7 billion buyout of Nasdaq-listed Chinese display advertising company Focus Media Holding  FMCN.O , Basis Point reported citing sources.

ID:nRLP89876a

MARCH 7

U.S. PRIVATE equity firms Blackstone Group LP  BX.N  and TPG Capital  TPG.UL  placed separate final bids for Australia's largest poultry producer, Inghams Chicken, sources with direct knowledge of the matter told Reuters.  ID:nL4N0BZ3RN

MAPLETREE GREATER China Commercial Trust  MAPE.SI  rose as much as 10.2 percent in its debut, underscoring demand from yield-hungry investors after the Temasek-backed trust raised $1.3 billion in Singapore's biggest REIT offering.

ID:nL4N0BW2IN

EXXON MOBIL Corp  XOM.N  has launched an auction to sell up to $2 billion worth of shares in a Hong Kong power venture after a year-long effort to offload its holding to its partner yielded no result, sources familiar with the matter said.

ID:nL4N0BZ0MS

INDIA'S BHARTI Airtel Ltd  BRTI.NS  is looking to sell up to a quarter of its satellite TV services arm and is in talks with several potential suitors, two sources with direct knowledge of the situation said.  ID:nL6N0BZHKR

GOLDMAN SACHS Group Inc.  GS.N  has hired Morgan Stanley's

MS.N  Asia investment banking head Kate Richdale, the most senior banker in the region to switch firms so far this year.

ID:nL4N0BZ0KI

MARCH 6

THE SALE of ING Groep's  ING.AS  South Korean unit is set to be revived after private equity-backed Tong Yang Life Insurance Co Ltd  082640.KS  said it was considering whether to buy the business, which is valued at about $2.1 billion.  ID:nL4N0BY0UG

CHINESE INTERNET portal Sohu.com Inc  SOHU.O  denied a media report that the company is talking to investment banks and private equity funds about a possible plan to take the company private. Sohu also said it has no plans to delist its common stock from the Nasdaq.  ID:nL4N0BY28D

PARTNERS GROUP said it had closed a 680 million euro ($882.74 million) global fund to invest in direct, secondary and primary private equity, as well as mezzanine.  ID:nTEN75b48a

MARCH 4

U.S.-LISTED infant formula and milk powder maker Feihe International  ADY.N  has agreed to be taken private by the company's chairman and CEO, and Morgan Stanley Private Equity Asia for about $147 million.  ID:nMKW92491a

KKR HAS expanded its team in Japan ahead of closing its new $6 billion pan-Asia fund with specialist hires from Goldman Sachs Group Inc and consultancy firm McKinsey & Co.

urn:newsml:reuters.com:*:nL4N0BW35O ($1 = 0.7703 euros)

(Compiled by Stephen Aldred; Editing by Anand Basu)

((stephen.aldred@thomsonreuters.com; +852 2912 6609; Reuters Messaging: stephen.aldred.thomsonreuters.com@reuters.net))

Keywords: PVE WEEKLY/