News and developments in Asia private equity from Reuters News for the week ending September 21.

SEPTEMBER 21

GENERAL LIGHTING Co (GLC), a Saudi Arabian company part-owned by private equity firm Carlyle Group, has acquired Malaysia's largest lighting fixture manufacturer, Davex, in a deal worth about $60 million, General Lighting said.

 SEPTEMBER 20

THE HEAD of CVC Capital Partners' Australian unit has resigned, as the company stares at losses of up to $1.8 billion from its Nine Entertainment buy, dealing a blow to the private equity firm's plans to bed down with the world's elite.

BUYOUT FIRM RHJ International has secured backing from a Chinese conglomerate and other investors for its acquisition of Deutsche Bank's BHF-Bank unit as it seeks to win over the German regulator who blocked two previous deals.

A CHINESE machinery group is likely to buy German rival KraussMaffei Technologies, adding to a string of deals in which Chinese companies have scooped up German industrial know-how, two people close to the transaction said.

A PACK of new media specialists in Australia has surpassed many of the country's newspapers and television networks in size after diverting away the precious advertising dollars that have sustained the old guard for decades.

SHARES IN Australian surfwear company Billabong International Ltd fell more than 6 percent after the company said one of its two suitors, which sources told Reuters was Bain Capital, had dropped out of the race.

ASIA PRIVATE equity fund Headland Capital Partners said it had promoted joint managing partners George Raffini and Marcus Thompson to chairman and chief executive officer respectively, while senior partner Douglas Ng is now head of corporate development.

SEPTEMBER 19

CHINA'S ALIBABA Group said it bought back half the stake Yahoo Inc owned in the company for about $7.6 billion, moving closer to an initial public offering.

IDFC PRIVATE Equity, a unit of India's Infrastructure Development Finance Co, has invested about 1.55 billion rupees ($29 million) in private Indian dairy firm Parag Milk Foods, the companies said.

SEPTEMBER 18

AUSTRALIAN FUND company Allan Gray, known for its prowess in sniffing out good deals, said it was waiting to jump into the resources sector as the country's fading mining boom batters stock valuations of mining firms.

A U.S. regulation that limits how much of its own capital a bank can put at risk is causing headaches for Morgan Stanley as it prepares to raise a new multi-billion-dollar global infrastructure fund, people familiar with the situation said.

SEPTEMBER 17

ASIA-FOCUSED private equity firm Affinity Equity Partners is seeking to raise as much as $3.5 billion in a new fund, sources said, testing investor appetite for Asia funds at a time when a number of global players have already launched big funds.

AUSTRALIAN SURFWEAR company Rip Curl said it has received unsolicited approaches from several international companies wanting to invest in the privately held firm, in a deal that could fetch up to A$480 million ($506 million).

INDIAN SOFTWARE services provider Tech Mahindra Ltd is set to announce on Monday a deal to acquire a majority stake in mobile phone software maker Comviva Ltd, three sources with direct knowledge of the plans said.

PRIVATE EQUITY firm CVC and Royal Bank of Scotland sold a combined 153.6 million shares in luggage maker Samsonite International, raising HK$2.22 billion ($286 million), IFR reported.

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