Asia Private Equity Weekly News, April 2, 2013
02/04/2013 02:49
HONG KONG, Apr 2 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending March 29. MARCH 29 GIBSON GUITAR GIBSN.UL , known for producing electric guitars used legendary rock guitarists such as Jimmy Page and Jeff Beck, said it was buying a majority share in Japanese audio equipment manufacturer TEAC Corp 6803.T for 4.88 billion yen ($51.9 million) from funds operated by Phoenix Capital. urn:newsml:reuters.com:*:nT9N0BZ01Q MARCH 28 CITIC PRIVATE Equity has acquired Hoau, the Chinese parcel service of Dutch delivery company TNT Express TNTE.AS for an undisclosed amount. Analysts estimated the network of 1,600 distribution depots is worth roughly 70 million euros ($90 million). urn:newsml:reuters.com:*:nL5N0CK0O5 MARCH 27 MALAYSIAN PRIVATE equity firm Navis Capital said it has purchased a 54.8 percent equity interest in data services company Strateq Sdn Bhd from Kencana Capital Assets Sdn Bhd for an undisclosed amount. U.S. PRIVATE equity firm TA Associates and technology-focused growth equity firm Updata Partners said they plan to invest in Australia-headquartered software solutions firm Nintex Group. MARCH 26 KKR & CO LP KKR.N agreed to sell Intelligence Holdings to Temp Holdings 2181.T for 68 billion yen ($721 million), almost double what the U.S. buyouts firm initially paid for the temporary staffing agency three years ago. urn:newsml:reuters.com:*:nL3N0CI06G JAPANESE RAILWAY and real estate group Seibu Holdings said it opposes Cerberus Capital Management LP's CBS.UL attempt to increase its stake in the company, setting up a battle with its largest shareholder. urn:newsml:reuters.com:*:nL3N0CI0ZX BARING PRIVATE Equity Asia has withdrawn its bid to take private U.S.-listed China company Ambow Education Holding Ltd AMBO.N , after three independent directors and the company's auditor resigned, Ambow said in a statement. urn:newsml:reuters.com:*:nASB00ONO SDCL ASIA, a joint venture between Sustainable Development Capital LLP (SDCL) and Hong Kong-based First Eastern Investment Group, is establishing an investment programme for up to S$200 million ($161.11 million) to finance energy efficient systems in manufacturing facilities, SDCL said in a statement. MARCH 25 PRIVATE EQUITY firm CVC Capital Partners CVC.UL and Royal Bank of Scotland RBS.L sold a combined $528 million stake in Hong Kong-listed luggage maker Samsonite International 1910.HK , according to a term sheet seen by Reuters. urn:newsml:reuters.com:*:nL3N0CH0O4 NINE BANKS joined the senior syndication of a $1.075 billion loan backing the $3.7 billion buyout of Nasdaq-listed Chinese display advertising company Focus Media Holding Ltd FMCN.O , Basis Point reported citing sources. urn:newsml:reuters.com:*:nRLP94007a ($1 = 1.2414 Singapore dollars) (Compiled by Stephen Aldred; Editing by Anupama Dwivedi) ((stephen.aldred@thomsonreuters.com)(+852 2912 6609)(Reuters Messaging: stephen.aldred.thomsonreuters.com@reuters.net)) Keywords: PVE WEEKLY/