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Asia Private Equity Weekly News, May 14, 2012

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May 14
9:57 AM 2012

News and developments in Asia private equity from Reuters News for the week ending May 11.

MAY 11

FORMULA ONE'S commercial rights holders CVC need to reach an agreement with Mercedes before any flotation of the sport can be successful, Mercedes GP chief executive Nick Fry said.

MAY 10

CAPITAL INTERNATIONAL Private Equity Funds has closed a $3 billion global emerging markets private equity fund, one of the largest funds of its kind in recent years.

WARBURG PINCUS LLC has reached its first fund-raising close for its 11th private equity fund, raising more than $5 billion in just over seven months, people familiar with the matter said, a major step toward reaching its $12 billion target.

MAY 9

JAPANESE PRIVATE equity firm Unison Capital has agreed to buy Japanese drugmaker Showa Yakuhin Kako from domestic rival Tokio Marine Capital, its third buyout in six months.

A PROPOSED plan by China's regulators could allow hedge funds, for the first time, to directly trade in mainland stocks and bonds, opening up one of Asia's biggest capital markets to the $2 trillion industry.

SINGAPORE TELECOMMUNICATIONS Ltd, Southeast Asia's largest telecoms company, is close to acquiring a Silicon Valley-based mobile advertising startup, a person familiar with the matter said.

MAY 8

CHINA PLANS to treat local money raised and managed by global private equity firms as foreign funds, industry sources said, restricting their access to sectors such as media and mining in the world's second-biggest economy.

PT TELEKOMUNIKASI Indonesia, the nation's biggest telecom firm, has submitted a bid to buy Asia's leading undersea cable operator Pacnet Ltd, in a deal that could value Pacnet at about $1 billion including debt, sources said.

MAY 7

SINGAPORE STATE investor Temasek Holdings and Asia-based private equity firm RRJ Capital have agreed to invest $468 million in Cheniere Energy to help the U.S. energy firm fund the country's first liquefied natural gas export plant.

PRIVATE EQUITY group Blackstone Group has made its first acquisition in Singapore, buying the StarHub Green project from Germany's SEB Asset Management for S$215 million ($173 million).

INDIA WILL slash the tax on long-term capital gains for private-equity investors to 10 percent from 20 percent, a finance ministry statement said.

THE BUYER group for private equity fund MBK Partners' Taiwan cable television business said it might have to pull out of the $2.4 billion deal because of delays in the regulatory approval that it said had cost it an extra $300 million.

This article is copyrighted by Reuters

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