Asia Private Equity Weekly News, Sept 30, 2013

Reuters

HONG KONG, Sept 30 (Reuters) - News and developments in Asiaprivate equity from Reuters News for the week ending Sept. 27.

SEPTEMBER 27

U.S. PRIVATE equity firm KKR & Co said it wouldinitially pay about 165 billion yen ($1.67 billion) forPanasonic Corp's healthcare unit, in what could be thelargest buyout deal in Asia year to date.

DEALTALK-LAUDED by many for its principled stance inrejecting Alibaba Group's plans to list shares, the Hong KongStock Exchange has left the city's financial community fuming ata lost opportunity, and re-ignited calls for market reforms.

SEPTEMBER 26

GERMANY'S BIGGEST bathroom fittings company, Grohe, has beensnapped up by Japanese building products group Lixil ina $4 billion deal including debt, the largest ever investment bya Japanese company in Europe's biggest economy.

JAPANESE PUBLIC funds collectively holding more than $2trillion in assets should alter their current emphasis onJapanese government bonds and diversify to property,infrastructure, private equity and commodities, a reform panelsaid in an interim report.

APPLIED MATERIALS Inc's $10 billion acquisition ofTokyo Electron Ltd is more than just a milestoneforeign takeover in Japan - it's a rare forward-looking deal ina country where selling to an overseas rival is usually a lastresort.

SEPTEMBER 25

TPG CAPITAL has agreed to sell its China leasingbusiness UT Capital Group Co Ltd to Haitong InternationalHoldings, a unit of Haitong Securities, for $715million, the two companies said in separate statements.

CHINESE E-COMMERCE giant Alibaba Group Holding Ltd will pursue an IPO in the United States after talkswith Hong Kong regulators broke down, a move bound to set off adogfight between the two main U.S. stock exchanges for theoffering.

SEPTEMBER 24

KKR & Co LP is leading a joint venture with ChinaModern Dairy Holdings Ltd and a Chinese private equityfirm that will invest $140 million in two large dairy farms tohelp meet rising domestic demand for premium milk products.

SMITHFIELD FOODS Inc shareholders "overwhelmingly"approved the pork packer's $4.7 billion sale to ShuanghuiInternational Holdings Ltd in what is shaping up tobe the biggest acquisition yet of a U.S. company by a Chineseone.

SEPTEMBER 23

CHINA-BASED crop nutrient maker Yongye International Inc said it has agreed to be taken private by topshareholder Full Alliance International Ltd and its affiliates,valuing the company at about $340 million.

ONLINE FOREIGN exchange services provider OzForex Groupplans to raise A$440 million ($413.03 million) by listing onOct. 11. Macquarie Group, venture capital firm AccelPartners and private equity firm Carlyle Group will sellall they own of OzForex.

CHINA PRIVATE Equity Investment Holdings Ltd saidit would invest a further $1.6 million in Asia BioenergyTechnologies Bhd, an information technology andbiotechnology incubator in which it already holds an 11.9percent stake.

INDOCHINA INVESTMENT firm Dragon Capital said it hadlaunched the Vietnam Equity UCITS Fund, which aims to generatemedium to long term capital growth by investing mainly in stocksof Vietnamese companies traded on the Ho Chi Minh StockExchange, or other listed companies with significant exposure tothe country. ()

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