Asia Private Equity Weekly News, February 25, 2014

Reuters
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HONG KONG, February 25 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending February 21.

FEBRUARY 21

FOCUS MEDIA Holding Ltd, a Chinese display advertising company backed by Carlyle Group and other private equity firms, plans a $1 billion initial public offering in Hong Kong early in 2015, IFR reported, citing sources familiar with the plans.

MIZUHO BANK and Sumitomo Mitsui Banking Corp are arranging an around 30 billion yen ($292.18 million) loan to back Lone Star's buyout of communications package billing service provider Invoice Co Ltd, Basis Point reported.

BAIN CAPITAL is looking to refinance a 74.1 billion yen ($721.7 million) buyout financing for struggling audio equipment retailer D&M Holdings Inc ahead of its senior debt maturing in September, at a time when the debt is on sale at distressed levels in the secondary market, Basis Point reported.

FEBRUARY 20

GLOBAL PRIVATE equity firm KKR & Co LP plans to offer funding to struggling companies in India where rising bad loans has constrained bank lending and low demand has ruled out share sales for many small and mid-sized firms.

A BRITISH judge found that Bernie Ecclestone had paid bribes to a German banker as part of a "corrupt agreement" linked to the 2005 sale of a stake in Formula One - an issue at the heart of Ecclestone's forthcoming bribery trial in Germany.

PRIVATE EQUITY firm Blackstone Group LP and Singapore sovereign wealth fund GIC are in advanced talks to buy minority stakes in Kronos Inc that could value the human resources software company at around $4.5 billion, including debt, three people familiar with the matter said.

FEBRUARY 19

GOLDMAN SACHS and a unit of Mitsui & Co Ltd have led a 3,150 million rupee ($50.6 million) investment consumer goods firm Global Beverages & Foods Pvt Ltd, the investment banks said in a joint statement.

TELSTRA CORP Ltd will cut up to 800 jobs as it restructures its directories unit Sensis into a digital business, Australia's largest telecommunications provider said on Wednesday.

SYNDICATION OF a 28 billion yen ($272.71 million) seven-year loan for Bain Capital backing its $502 million buyout of online market research firm Macromill Inc has closed with three banks joining, Basis Point reported.

TOKYO-BASED agricultural chemicals company Arysta LifeScience is raising a $175 million incremental first-lien term loan B, Thomson Reuters LPC reported.

CITIC PRIVATE Equity Funds Management has held talks on its stake in Biosensors International Group Limited, the medical equipment maker said following a report that CITIC was considering a full buyout of the company.

FEBRUARY 18

SINGAPORE STATE investor Temasek Holdings Pvt Ltd is seeking to sell its $3.1 billion stake in Thai telecom company Shin Corp and has approached its SingTel unit as a possible buyer, people familiar with the matter said.

GLOBAL LOGISTIC Properties Ltd said it expects a group of Chinese state-owned enterprises and financial institutions, including Hopu Funds and a unit of Bank of China , to invest up to $2.5 billion in the company.

CLEARVUE PARTNERS said it had raised a debut $262 million private equity fund, ClearVue Partners, L.P., focused on the China consumer sector. Investors in the fund include Fidelity Growth Partners, Emerald Hill, Harbourvest and AUDA.

INTEL CAPITAL, Intel Corp's investment unit, said it has invested in Shanghai Yeapoo]

FEBRUARY 17

A GROUP led by private equity firm TPG Capital will buy Chindex International Inc, a U.S. healthcare provider in China, for $369 million, Chindex said.

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