VENTURE CAPITAL POST

Washington-based international law and lobby powerhouse Patton Boggs LLP has ended merger discussions with Texas-based law company Locke Lord LLP, according to a joint statement on December 19.

Australia-based mobile device provider Telstra Corporation Ltd will sell CSL, its Hong Kong-based mobiles business to HKT Limited in a deal valued at $2.425 billion.

NWS Holdings Ltd, owned by Hong Kong tycoon Cheng Yu-tung, entered an agreement to purchase a stake in Beijing Capital International Airport Co from sovereign wealth fund GIC Pte.

Hutchison Whampoa, a conglomerate controlled by Hong Kong tycoon Li Ka-shing has picked Bank of America Merrill Lynch, Goldman Sachs and HSBC to manage the proposed listing of A.S. Watson in Hong Kong and London.

Tokyo, Japan-based firms ITOCHU Corp and ITOCHU Textile Prominent Ltd have finalized a deal with Fenix Group Holdings Ltd to invest in ASF Limited, an intermediate holding firm under the sponsorship of Fenix.

Beijing-based supermarket chain Wumart Stores Inc has cancelled its plans to purchase stores and equity shares from its rival C.P. Lotus Corp, but the reasons for the fallout were not elaborated in a report.

Sources said that American International Group is close to a deal to make its exit from International Lease Finance Corp. to Netherlands' AerCap Holdings NV. Under the deal, AIG will reportedly receive $3 billion in cash and $2.4 billion in stock.

Chinese lender China Everbright Co raised $2.6 billion in its third attempt at a Hong Kong initial public offering (IPO) of 5.08 billion shares priced at HK$3.98 apiece.

Hong Kong-based private equity fund RRJ Capital Ltd bought a 7.85% stake in renewable power developer China Everbright International Ltd in a deal valued at $350 million.

Hong Kong-based private equity firm Gaw Capital Partners is set to purchase minority stakes in four commercial property acquisitions in the UK and the US, in a deal with a total value of USD1 billion.

Russia-based platform for publishing and viewing educational content BeSmart.net will receive USD4 million in total investment over the next three years from Hong Kong's Education Matrix.

Bankers and brokers believe that QDII3, a HKD100 billion investment scheme in Shenzen's Qianhai economic zone designed to allow offshore investment in Hong Kong, could take a long time before Beijing approves it.

Just months after pulling out of a planned multi-billion dollar sale of his grocery chain, Hong Kong billionaire Li Ka-shing has started the process for Waston's initial public offering. The global retail business is set to float next year.

The auction frenzy seen in Hong Kong's latest auctions by Christie's International Plc was not caught on in London, wherein seven of the 24 lots put up for sale did not attract bidders.

Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.