Denny's Feed
Nov 6, 2015

Australia NAB’s insurance sale to spur similar deals by rivals

HONG KONG/WELLINGTON (Reuters) – ANZ Banking Group (ANZ.AX: Quote, Profile, Research, Stock Buzz) and Commonwealth Bank of Australia (CBA.AX: Quote, Profile, Research, Stock Buzz) could follow top lender National Australia Bank (NAB.AX: Quote, Profile, Research, Stock Buzz) in selling off stakes in their life insurance business in a bid to meet rising regulatory capital needs, bankers say.

The insurance units of ANZ and CBA, by virtue of their 15 percent market share in Australia’s A$86 billion ($61 billion) life sector, are the most promising targets for suitors seeking exposure to an under-insured but profitable market, they said.

Nov 4, 2015

While China growth slows, cash-hungry firms steer Asia IPOs into fast lane

HONG KONG, Nov 5 (Reuters) – As the world absorbs life with
a slowing Chinese economy, business is brisk for one group –
Asia’s bankers, handling a burst of stock listings by mainland
firms that need funds now and are resigned to their shares being
worth less than before.

Though initial public offering valuations may be cheaper,
the pace of deals is accelerating. A Reuters review of upcoming
deals showed an estimated $17 billion for IPOs due for the last
two months of the year in Asia, with a near-doubling of Hong
Kong deals after China growth jitters cast a third-quarter pall.

Nov 4, 2015

New buyers seen fueling Asia Pacific oil and gas M&A

MELBOURNE/HONG KONG, Nov 4 (Reuters) – A new breed of buyers
and a handful of cashed-up energy firms are set to pounce on oil
and gas producers and assets in the Asia Pacific next year, as a
prolonged plunge in oil prices deepens the pain of an industry
loaded with debt.

Some $14 billion worth of deals have already been launched
in Australia this year, but with oil prices forecast to stay
around $50 a barrel for at least another year, companies are
paring back the value of their assets and those short of funds
or struggling to pay down debt may look to sell, bankers say.

Oct 23, 2015

(OFFICIAL)-Asia private equity funds hurt Morgan Stanley’s Q3 profit

HONG KONG, Oct 21 (Reuters) – A dramatic fall in the value
of Morgan Stanley’s Asian private equity funds hit the
bank’s quarterly earnings, highlighting the risks of such
investing at a time when rivals are scaling back to avoid losses
and higher regulatory costs.

Morgan Stanley’s investment portfolio suffered a $235
million loss during the July-September period, compared with a
profit of $232 million in the previous quarter, Morgan Stanley
CFO Jonathan Pruzan told analysts.

Oct 23, 2015

(OFFICIAL)-Asia private equity funds hurt Morgan Stanley’s Q3 profit

HONG KONG, Oct 21 (Reuters) – A dramatic fall in the value
of Morgan Stanley’s Asian private equity funds hit the
bank’s quarterly earnings, highlighting the risks of such
investing at a time when rivals are scaling back to avoid losses
and higher regulatory costs.

Morgan Stanley’s investment portfolio suffered a $235
million loss during the July-September period, compared with a
profit of $232 million in the previous quarter, Morgan Stanley
CFO Jonathan Pruzan told analysts.

Oct 20, 2015

Asia private equity funds hurt Morgan Stanley’s third-quarter profit

HONG KONG (Reuters) – A dramatic fall in the value of Morgan Stanley’s (MS.N: Quote, Profile, Research, Stock Buzz) Asian private equity funds hit the bank’s quarterly earnings, highlighting the risks of such investing at a time when rivals are scaling back to avoid losses and higher regulatory costs.

Morgan Stanley’s investment portfolio suffered a $235 million loss during the July-September period, compared with a profit of $232 million in the previous quarter, Morgan Stanley CFO Jonathan Pruzan told analysts.

Oct 20, 2015

Asia private equity funds hurt Morgan Stanley’s Q3 profit

HONG KONG, Oct 21 (Reuters) – A dramatic fall in the value
of Morgan Stanley’s Asian private equity funds hit the
bank’s quarterly earnings, highlighting the risks of such
investing at a time when rivals are scaling back to avoid losses
and higher regulatory costs.

Morgan Stanley’s investment portfolio suffered a $235
million loss during the July-September period, compared with a
profit of $232 million in the previous quarter, Morgan Stanley
CFO Jonathan Pruzan told analysts.

Oct 14, 2015

As forex markets turn choppy, demand for M&A-related hedging revives

HONG KONG, Oct 14 (Reuters) – Some hedging products that
were used only sparsely for years are making a comeback now,
driven by a surge in cross-border mergers and acquisitions to a
record at a time of heightened currency volatility, bankers say.

Products such as Deal-Contingent Forwards (DCFs) have become
popular with M&A participants because they provide insurance
against big currency-related losses if a deal gets stuck or
unravels.

Oct 8, 2015

Li Ka-shing’s CKI sweetens Power Assets buyout bid to $12.4 bln

HONG KONG, Oct 8 (Reuters) – Li Ka-shing’s main
infrastructure firm has sweetened an $11.6 billion offer to buy
out a cash-rich Hong Kong utility, a rare concession to
sceptical investors by Asia’s richest man that may yet be
followed by more on a key deal for his business empire.

Li’s Cheung Kong Infrastructure Holdings Ltd (CKI)
cited unspecified shareholder “feedback” in announcing the move
late on Wednesday. It said it would raise its all-stock bid for
control of Power Assets Holdings Ltd to $12.4 billion
via a 2.5 percent increase in the share-swap ratio.

Oct 8, 2015

Li Ka-shing’s CKI sweetens Power Assets buyout bid to $12.4 bln

HONG KONG, Oct 8 (Reuters) – Li Ka-shing’s main
infrastructure firm has sweetened an $11.6 billion offer to buy
out a cash-rich Hong Kong utility, a rare concession to
sceptical investors by Asia’s richest man that may yet be
followed by more on a key deal for his business empire.

Li’s Cheung Kong Infrastructure Holdings Ltd (CKI)
cited unspecified shareholder “feedback” in announcing the move
late on Wednesday. It said it would raise its all-stock bid for
control of Power Assets Holdings Ltd to $12.4 billion
via a 2.5 percent increase in the share-swap ratio.