Asia Private Equity Weekly News, October 21, 2013

Reuters

HONG KONG, October 21 (Reuters) - News and developments inAsia private equity from Reuters News for the week endingOctober 18.

OCTOBER 18

U.S. PRIVATE equity firm TPG Capital will payHK$1.66 billion ($213.73 million) for 21st CenturyFox-controlled Star Entertainment's remaining stake in Chinesesatellite television operator Phoenix Satellite Television.

JAPAN'S GOVERNMENT Pension Investment Fund (GPIF) is makinginitial moves toward investing in private equity, sources say, apotentially big step in the world's biggest public pensionfund's strategy of shifting some of its $1.2 trillion in assetstowards riskier investments.

HUTCHISON WHAMPOA, controlled by Asia's richestman, Li Ka-shing, has scrapped a plan to sell its Hong Kongsupermarkets business, ParknShop and will instead focus onexpanding in China, it said.

OCTOBER 17

PACTERA TECHNOLOGY International Ltd, China'slargest technology outsourcing company, agreed to be takenprivate by a consortium led by Blackstone Group LP for$625 million, after a month of wrangling over the sale price.

CHINESE COMPUTER maker Lenovo, which has signed anon-disclosure deal to examine BlackBerry's books, facesregulatory obstacles if it bids for all of the company and willlikely pursue just parts, a source familiar with the matter saidon Thursday.

OCTOBER 16

PRIVATE EQUITY firm RRJ Capital is placing a bet on China'sreal estate market by investing $50 million in a new share issueby the Hong Kong-listed property developer CIFI Holdings GroupCo Ltd.

YAHOO INC'S plan to keep a larger-than-expectedstake in e-commerce giant Alibaba after the Chinesecompany's IPO prompted at least seven brokerages to raise theirstock price targets on the U.S. company.

OCTOBER 15

INDIA'S FORTIS Healthcare Ltd has decided to sellits stake in Quality Healthcare Medical Services in Hong Kong toBritish medical services group Bupa for $355 million,as part of its efforts to reduce debt by selling some assets.

CREDIT FUND manager Bentham Asset Management said it haslaunched two New Zealand dollar funds targeted at New Zealandinvestors.

OCTOBER 14

CHINA-FOCUSED water treatment company SIIC EnvironmentHoldings Ltd is raising S$260.2 million ($208.7million) by selling new shares to investors including Chinesesovereign wealth fund CIC and private equity firm RRJCapital.

ALIBABA GROUP'S plans to revolutionise China's retailindustry, investing $16 billion in logistics and support by2020, will open up China's vast interior and bring access tohundreds of millions of potential new customers.

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