Asia Private Equity Weekly News, September 3, 2012

By Staff Reporter

Sep 03, 2012 10:50 AM EDT

News and developments in Asia private equity from Reuters News for the week ending August 31.


SHANDONG HEAVY Industry Group will buy a one quarter stake in Kion Group, giving China access to industrial technology from the world's number two fork lift truck maker in the largest direct investment by a Chinese company in a German firm.


CHINA BAOXIN Auto Group Ltd has agreed to buy NCGA Holdings Ltd, a high-end car dealership based in Beijing and backed by global asset manager Apollo Group, for $305 million, Baoxin said in a statement.

AUSTRALIAN INDUSTRIAL property manager Goodman Group and Canada Pension Plan Investment Board (CPPIB) said they will invest an additional $500 million in their Chinese logistics joint venture.


PRIVATE EQUITY firm KKR is in talks to invest about 100 billion yen ($1.3 billion) for control of Japan's Renesas Electronics Corp, sources said on Wednesday, offering a lifeline to the struggling chipmaker and pushing its shares up 35 percent.

BRITISH TELECOMS firm BT is selling about 5 percent of Indian IT service provider Tech Mahindra Ltd for about $100 million, two sources with direct knowledge of the situation said.

JAPAN'S DAIKIN Industries Ltd, the world's second-largest maker of air conditioners, has agreed to buy U.S. rival Goodman Global Inc from private equity firm Hellman & Friedman in a deal worth about $3.8 billion, sources familiar with the matter said.

EUROPEAN PRIVATE equity firm Permira has raised $750 million by selling around half of its stake in Macau casino operator Galaxy Entertainment Group Ltd, two sources with direct knowledge of the deal said.


HONG KONG'S securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a former China-based client.

PRIVATE EQUITY FIRM Blackstone Group and Taiwan's Wei family, the founders of instant noodle and MSG maker Ting Hsin International Group, are seeking to raise $282 million in five-year debt to back the purchase of a commercial property in Shanghai, Basis Point reported, citing unnamed sources.


EXCLUSIVE-BLACKSTONE grooms six executives for Schwarzman's job

BLACKSTONE, BAIN Capital, KKR and Dubai's Abraaj Capital have been shortlisted for the second phase of an auction of a fifth of private Indonesian healthcare operator Siloam in a deal that could fetch as much as $300 million, sources said.

SWITZERLAND'S SFS Group has agreed to buy Singapore disc drive component maker Unisteel Technology International from private equity fund KKR & Co L.P. for an undisclosed sum, the companies said in a joint statement.

MID-SIZED JAPANESE lender Aozora Bank said it will spend 227.6 billion yen ($2.9 billion) over a decade to pay back about 180 billion yen in public funds, ending months of speculation on how and when it will return the bailout money injected during Japan's financial crisis.

AUSTRALIAN SURFWEAR company Billabong International launched a turnaround strategy to fend off a A$694 million ($723 million) private equity bid, even as it posted a collapse in second-half profit.

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