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Asia Private Equity Weekly News, September 16, 2014
Sept 16 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending September 12.
SEPTEMBER 12
FRENCH PRIVATE equity firm Ardian, Chinese conglomerate Fosun International, China's U-Tour and Portuguese insurer Fidelidade, said on Friday they would offer 22 euros per share for Club Mediterranee (Paris: FR0000121568 - news) , reigniting a battle for control of the French resort operator.
SAN MIGUEL Corp, the Philippines' most diversified conglomerate, said it was planning a solo bid for British snacks maker United Biscuits (IPO-UNI (Other OTC: CEMTY - news) .L), owner of brands such as Jaffa Cakes and Twiglets.
CAR INC, China's largest car rental company by fleet size and backed by Warburg Pincus, is set to raise $467 million in a Hong Kong initial public offering, pricing the deal at the top end of expectations, sources said.
AUSTRALIAN INDUSTRY standards firm SAI Global Ltd extended a self-imposed deadline for parties interested in making a takeover bid.
STANDARD CHARTERED Private Equity said it had acquired a significant minority stake in Vietnam restaurant operator Golden Gate Trade & Services Joint Stock Co, for $35 million. Mekong Capital (Other OTC: CGHC - news) said it had exited its investment in the same company, making a return of 9.1 times. [http://bit.ly/1oU5VRb ]
SEPTEMBER 11
TIANHE CHEMICALS has denied allegations that it made false statements in its initial public offering prospectus and said key investor Morgan Stanley Private Equity Asia (MSPEA) has given it full support.
KIRKLAND & ELLIS said Damien Coles will join the firm as a partner in the Hong Kong office, working in the firm's restructuring practice. [http://bit.ly/1oU34HS]
SEPTEMBER 9
LEAPFROG INVESTMENTS, a private equity firm backed by George Soros and JP Morgan, said it has raised $400 million for socially responsible investments in Asia and Africa - the largest ever for a fund specialising in low-income emerging market financial services.
SEPTEMBER 8
WHEN STOCK researcher Anonymous Analytics accused China's Tianhe Chemicals of doctoring the books ahead of a Hong Kong IPO, it was pitting itself against one of Asia's top private equity firms, MSPEA.
CARLYLE GROUP, one of the world's largest private equity firms, said it has closed its fourth Asia fund at $3.9 billion.
SEPTEMBER 3
CARLYLE AND Fountainvest Partners have pulled out of a consortium backing a $1.9 billion bid to buy U.S. listed online games developer Shanda Games Ltd, Shanda said.
PROVIDENCE EQUITY Partners is selling a 2.4 percent stake in India's Idea Cellular Ltd (BSE: IDEA.BO - news) to raise up to $242 million, a source directly involved in the deal said.
SEPTEMBER 2
KKR & CO LP has sold its remaining stake in China Modern Dairy Holdings, raising around $80 million, a source with direct knowledge of the matter said.
STATE STREET Corp, the world's second-largest standalone custody bank, said it appointed Bob Keogh as head of alternative investment solutions for the Asia Pacific region. (Compiled by Stephen Aldred in Hong Kong; Editing by Biju Dwarakanath)
