Asia Private Equity Weekly News, August 25, 2014

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25/08/2014 03:01

August 25 (Reuters) - News and developments in Asia private 
equity from Reuters News for the week ending August 22. 
     
    AUGUST 22 
    PRIVATE EQUITY firms Affinity Equity Partners and CVC 
Capital Partners  CVC.UL  are among potential bidders for South 
Korea's No. 1 car rental company, KT Rental, in a sale expected 
to fetch around 800 billion won ($786 million), people familiar 
with the matter said.  ID:nL4N0QR0YV  
     
    AUGUST 21 
    ORCHID ASIA, one of China's oldest private equity firms, 
said on Thursday it had closed its sixth private equity growth 
fund, raising $920 million, well above its original target, on a 
record of strong returns to investors.  ID:nL4N0QR2U0  
    CATALYST CEL Fund, jointly managed by Israel's Catalyst 
Equity Management Ltd and Hong Kong listed China Everbright Ltd 
 0165.HK , said it had agreed to invest $42 million in Lamina 
Technologies, a Swiss-based maker of metal-cutting tools. 
 ID:nL5N0QR3KH   
     AUSTRALIAN INDUSTRY compliance firm and takeover target SAI 
Global Ltd  SAI.AX  announced a return to an annual net profit 
from a loss the previous year, hitting analysts' forecasts as it 
fields a number of potential takeover offers.  ID:nL4N0QQ643   
     
    AUGUST 20 
    THE PRIVATE equity arm of French luxury goods giant LVMH 
 LVMH.PA  will invest up to $80 million in South Korea's YG 
Entertainment Inc  122870.KQ , which manages a stable of K-pop 
performers including "Gangnam Style" rapper Psy.  ID:nL4N0QQ2M7  
    HONY CAPITAL said it bought a 20 percent stake in Chinese 
farm machinery maker Chery Heavy Industry Co Ltd for 696 million 
yuan ($113.3 million), seeking to profit from Beijing's drive to 
modernise its farm industry.  ID:nL4N0QQ211  
    CANADIAN RETAILER Alimentation Couche-Tard Inc  ATDb.TO  and 
China's Tencent Holdings Ltd  0700.HK  are among suitors 
short-listed to buy a $16 billion minority stake in China's 
Sinopec Sales, the world's largest fuel retail network, people 
familiar with the matter told Reuters.  ID:nL4N0QP19D   
    CHINESE LIGHTING manufacturer NVC Lighting Holding Ltd 
 2222.HK  said it was taking emergency measures following its 
chief executive's refusal to step down after its board of 
directors adopted a resolution calling on him to quit. 
 ID:nL2N0QQ0E4   
     
    AUGUST 19 
    WARBURG PINCUS  WP.UL  and China's Shanghai Baosteel Gases 
Ltd have agreed a deal to buy the industrial gas assets of Henan 
Jinkai Chemical Investment Holding Group for 3 billion yuan 
($489 million), the two partners said.  ID:nL4N0QP28W   
    BIOSENSORS INTERNATIONAL Group Ltd  BIOS.SI  said that a 
private equity unit of CITIC Group  CITIC.UL  has decided not to 
proceed with its takeover bid of the company.  ID:nL4N0QP33R   
     
    AUGUST 18 
    PARTNERS GROUP Swiss investment manager Partners Group 
Holding AG  PGHN.S  has agreed to buy the majority of 
China-focused elevator guide rail maker Savera Group for around 
2 billion yuan ($325 million), people with knowledge of the 
matter told Reuters.  ID:nL4N0QO2V1   
    KKR & CO LP  KKR.N  and Australian property manager Abacus 
Property Group  ABP.AX  have agreed to buy 70 percent of the 
World Trade Centre in Melbourne for A$120.4 million ($112.1 
million), Abacus said in a statement.  ID:nL4N0QO2Z6  
    ING INVESTMENT Management International has hired two senior 
portfolio managers to boost its emerging market equities team, 
the money manager said.  ID:nL4N0QO3Y2   
 
 (Compiled by Stephen Aldred in Hong Kong; Editing by Stephen 
Coates) 
 ((stephen.aldred@thomsonreuters.com)(+852 2912 6609)(Reuters 
Messaging: stephen.aldred.thomsonreuters.com@reuters.net)) 
 
Keywords: PVE WEEKLY/