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Sep 3, 2015

Santos auction faces challenge in volatile oil market

MELBOURNE/HONG KONG, Sept 3 (Reuters) – As rollercoaster oil
prices roil markets, Australian oil and gas producer Santos Ltd
faces a tough task to raise the $2 billion it needs
from asset sales to slash its debt and avoid having to swamp the
market with new shares.

Santos put its assets up for sale just over a week ago,
desperate to rescue its stock from a 15-year low due to sliding
oil prices and worries it will sell new shares to cut A$8.8
billion ($6.2 billion) in net debt.

Sep 2, 2015

Providence, Indosat vie for up to $1 billion Link Net stake: sources

JAKARTA/HONG KONG (Reuters) – Providence Equity Partners and PT Indosat Tbk are the only bidders for a majority stake in Indonesian TV and broadband operator PT Link Net Tbk after the up to $1 billion price tag put off other potential buyers, people familiar with the process said.

Indonesian firms MNC Group and PT XL Axiata Tbk had also put in initial bids, but they have since dropped out, said the people who declined to be identified as the discussions are confidential.

Sep 2, 2015

Providence, Indosat vie for up to $1 bln Link Net stake-sources

JAKARTA/HONG KONG, Sept 2 (Reuters) – Providence Equity
Partners and PT Indosat Tbk are the only bidders for a
majority stake in Indonesian TV and broadband operator PT Link
Net Tbk after the up to $1 billion price tag put off
other potential buyers, people familiar with the process said.

Indonesian firms MNC Group and PT XL Axiata Tbk
had also put in initial bids, but they have since dropped out,
said the people who declined to be identified as the discussions
are confidential.

Sep 1, 2015

Exclusive : BG puts Thai gas field stake worth $1.2 billion on sale – sources

HONG KONG/LONDON (Reuters) – BG Group plc, which is being acquired by Royal Dutch Shell plc, has put up for sale its 22.2 percent stake valued at around $1.2 billion in Thailand’s huge Bongkot offshore gas field, people familiar with the matter said.

The move represents the first major asset sale planned by BG since Shell agreed to buy the British company in April. The sale process required a green light from Shell, the people said.

Sep 1, 2015

BG puts Thai gas field stake worth $1.2 bln on sale-sources

HONG KONG/LONDON, Sept 1 (Reuters) – BG Group plc,
which is being acquired by Royal Dutch Shell plc, has
put up for sale its 22.2 percent stake valued at around $1.2
billion in Thailand’s huge Bongkot offshore gas field, people
familiar with the matter said.

The move represents the first major asset sale planned by BG
since Shell agreed to buy the British company in April. The sale
process required a green light from Shell, the people said.

Aug 27, 2015

China Cinda only bidder BOC bank unit with $8.8 billion price tag

HONG KONG (Reuters) – China Cinda Asset Management Co Ltd (1359.HK: Quote, Profile, Research, Stock Buzz) has put in the sole bid for a small Hong Kong lender whose parent BOC Hong Kong Holdings Ltd (2388.HK: Quote, Profile, Research, Stock Buzz) wants to sell for $8.8 billion, a record amount for any Hong Kong bank acquisition.

News of the bid for Nanyang Commercial Bank (NCB), which the bank and company announced in separate statements, pushed Cinda shares down as much as 11 percent as investors questioned the value of such a pricey deal amid China’s slowing economic growth and a sharp downturn in the stock market. The shares recouped some gains and closed down 1.7 percent.

Aug 26, 2015

China firm baulks at $8.8 billion price tag for BOC bank unit sale: sources

SINGAPORE/HONG KONG (Reuters) – Chinese investment firm Yue Xiu has effectively pulled out of a deal to buy a unit of lender BOC Hong Kong Holdings Ltd (2388.HK: Quote, Profile, Research, Stock Buzz), put off by the $8.8 billion asking price amid a sharp stock market downturn, people with knowledge of the matter told Reuters.

Yue Xiu did not submit a bid to buy Hong Kong-based Nanyang Commercial Bank (NCB) by a Tuesday deadline, the people added. Reuters had previously reported that the firm, part of the provincial Guangzhou government, was one of three short-listed bidders for the bank.

Aug 26, 2015

China firm baulks at $8.8 bln price tag for BOC bank unit sale-sources

SINGAPORE/HONG KONG, Aug 26 (Reuters) – Chinese investment
firm Yue Xiu has effectively pulled out of a deal to buy a unit
of lender BOC Hong Kong Holdings Ltd, put off by the
$8.8 billion asking price amid a sharp stock market downturn,
people with knowledge of the matter told Reuters.

Yue Xiu did not submit a bid to buy Hong Kong-based Nanyang
Commercial Bank (NCB) by a Tuesday deadline, the people added.
Reuters had previously reported that the firm, part of the
provincial Guangzhou government, was one of three short-listed
bidders for the bank.

Jul 24, 2015

China’s oldest investment bank CICC fails to pay off for KKR, TPG

HONG KONG, July 24 (Reuters) – Private equity firms KKR & Co
and TPG Capital are making poor returns on their
investment in China International Capital Corp (CICC), the
country’s oldest investment bank that is readying an IPO but has
struggled to compete with younger rivals.

CICC, formerly led by Levin Zhu, the ‘princeling’ son of
former Chinese premier Zhu Rongji, filed late on Wednesday for a
Hong Kong initial public offering (IPO) that sources have said
could raise at least $1 billion.

Jul 24, 2015

Nikkei’s “pink ‘un” buy highlights need to escape greying Japan

HONG KONG, July 24 (Reuters) – In splashing $1.3 billion for
Britain’s Financial Times, media group Nikkei is just the latest
in a string of Japanese companies driven to look overseas to
escape poor growth prospects from a rapidly aging domestic
population.

Flush with abundant bank funds available at near-zero
interest rates, and bolstered by stock markets at multi-year
highs, Japan Inc is not short of capital to plough into overseas
bids in search of profits that remain stubbornly hard to
generate at home.