Asia Private Equity Weekly News, June 25, 2012

By Staff Reporter

Jun 25, 2012 07:47 AM EDT

News and developments in Asia private equity from Reuters News for the week ending June 22.


CARLYLE GROUP is in talks with banks to refinance A$1.9 billion ($1.9 billion) in loans used to buy out Australian equipment hire company Coates Hire Ltd, two sources familiar with the matter told Reuters.

BAIN CAPITAL will buy a 50 percent stake in Jupiter Shop Channel, a television shopping company, for about 100 billion yen ($1.3 billion) in Japan's largest private equity transaction this year, according to a person with direct knowledge of the firm.

ASIA-PACIFIC M&A deal volumes fell almost 30 percent in the first half from a year earlier as the economic strain arising from the euro zone crisis forced companies to shy away from taking big takeover bets.


U.S. BUYOUT firm KKR & Co has put up for sale Bis Industries Ltd, valued at around $1.8 billion including debt, after talks to refinance the loans used to buy the Australian company stalled, sources familiar with the matter said.

THE U.S. Treasury Department said it had reached agreements with Switzerland and Japan to crack down on tax evasion by Americans, a move meant to help foreign banks in those countries comply with upcoming U.S. tax regulations.

NOMURA HOLDINGS, Japan's biggest brokerage, promoted Mark Williams to head of investment banking in Asia excluding-Japan, according to a memo seen by Reuters.

FORMULA ONE chief Bernie Ecclestone said that paying a German banker, who admitted in court to taking bribes during the sale of a stake in the motor racing business, had been a "bit stupid".


KKR is setting up its first deals team in Singapore as the U.S. private equity firm seeks to invest about $1 billion in Southeast Asia through its second Asia fund, sources with knowledge of the matter said.

U.S. PRIVATE equity fund Carlyle Group LP said it has hired Neeraj Bharadwaj as managing director of its India investment team.


INDIA'S GVK Power and Infrastructure is seeking to raise $500 million to $600 million by selling a stake in its Singapore arm and is in talks with Government of Singapore Investment Corp for a potential deal, two sources with direct knowledge of the matter said.

KKR HAS bought hedge fund money manager Prisma Capital Partners LP, marking the latest move by the private equity sector to boost assets by bolting on smaller funds-of-funds shops.

AUSTRALIA'S FAIRFAX Media, publisher of some of the country's leading newspapers, will overhaul its top mastheads and slash almost one-fifth of its staff, the beginning of a widespread shake-up of Australia's media sector.

CHINA MENGNIU Dairy Co Ltd, the country's biggest maker of dairy products, said that it will join forces with Danish-Swedish dairy group Arla Foods to develop dairy products in China.


GOLDMAN SACHS has relocated Andrew Wolff to London to head its European merchant banking division, following recent retirements, according to an internal memo seen by Reuters.

GLOBAL FOOD and dairy companies are making another round of big bets on China's fast growing dairy sector, seeking to position themselves as safe alternatives after a lethal baby formula scandal burned the industry four years ago.

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