July 17 (Reuters) – Japan’s biggest trading house Mitsubishi
Corp has submitted a non-binding bid to buy Murphy Oil
Corp’s Malaysian oil and gas assets valued at about $2.5
billion, a person familiar with the matter told Reuters.
India’s state-owned Oil & Natural Gas Corp and Oil
India Ltd are among the other suitors preparing to
submit bids for the Murphy assets, separate sources said.
SINGAPORE/HONG KONG (Reuters) – Finance firm Pepper Australia has roped in Bank of East Asia Ltd (0023.HK: Quote, Profile, Research, Stock Buzz) to help run a Hong Kong consumer finance business that it is seeking to acquire from Standard Chartered Plc (STAN.L: Quote, Profile, Research, Stock Buzz), sources with direct knowledge of the matter said.
Bank of East Asia would provide Pepper with relatively cheap funding to run Standard Chartered’s PrimeCredit unit, the sources said on Wednesday.
SINGAPORE/HONG KONG, July 16 (Reuters) – Finance firm Pepper
Australia has roped in Bank of East Asia Ltd to help
run a Hong Kong consumer finance business that it is seeking to
acquire from Standard Chartered Plc, sources with
direct knowledge of the matter said.
Bank of East Asia would provide Pepper with relatively cheap
funding to run Standard Chartered’s PrimeCredit unit, the
sources said on Wednesday.
HONG KONG/KUALA LUMPUR, July 3 (Reuters) – Malaysian state
investor 1Malaysia Development Bhd (1MDB) is seeking to raise
more than $3 billion through a stock market listing of its
energy assets, in what is set to be the nation’s second-biggest
initial public offering (IPO).
Struggling under the burden of $11 billion in borrowed
money, 1MDB is regarded as a cross between a sovereign wealth
fund and a private investment vehicle. Prime Minister Najib
Razak chairs its advisory board.
HONG KONG (Reuters) – A little over a month ago, a Texas power utility at the center of the biggest leveraged buyout in history filed for bankruptcy, sunk by billions of dollars of debt that it took on after being acquired by a trio of top private equity names in 2007.
The failure of Energy Future Holdings, known as TXU Corp when it was acquired at the height of the mega-buyout boom, is a sobering reminder to investors in private equity funds that heavily leveraged deals can – and do – go wrong.
HONG KONG (Reuters) – RSA Insurance Group Ltd (RSA.L: Quote, Profile, Research, Stock Buzz), Britain’s largest non-life insurer, is looking to sell its Asian operations in an auction that could fetch up to $500 million and draw a wide range of suitors, people familiar with the sale process told Reuters.
The sale is part of a group-wide restructuring led by new Chief Executive Stephen Hester, after losses caused by extreme weather and accounting irregularities at its Irish division hit its finances and prompted the departure of several senior executives.
HONG KONG/SINGAPORE, June 13 (Reuters) – Canada’s Talisman
Energy Inc is reviewing its Asian oil and gas
portfolio, valued at about $4 billion, which could lead to a
partial or full sale, people familiar with the matter said.
Talisman, Canada’s No. 5 independent oil producer, has been
slimming its operations and cutting debt in an effort to boost
its share price to satisfy disgruntled and activist investors
such as Carl Icahn.
HONG KONG, June 3 (Reuters) – Minority shareholders of Hong
Kong-listed CITIC Pacific Ltd are gathering on Tuesday
to vote on a landmark deal to acquire $36 billion of assets from
its state-owned parent CITIC Group Corp, China’s biggest and
oldest financial conglomerate.
They are expected to give the go-ahead to the deal to buy
practically all of the conglomerate’s assets. In doing so, they
will be endorsing not just China’s ambition to reform its
state-owned enterprises. They will also be backing a plan to
give CITIC Pacific direct exposure to the mainland’s banking
sector – and along with that, the country’s bad loans problems.
HONG KONG/SINGAPORE (Reuters) – Japan’s Shinsei Bank Ltd (8303.T: Quote, Profile, Research, Stock Buzz) and Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) are among suitors who have advanced to a final round of bidding for Standard Chartered’s (STAN.L: Quote, Profile, Research, Stock Buzz) Hong Kong consumer finance unit, people familiar with the matter said.
The unit, PrimeCredit, has drawn bidders with returns on equity of more than 40 percent that are sharply above rivals, and could fetch between $500 million and $700 million, sources have previously said.
May 21 (Reuters) – Chinese e-commerce firm JD.com Inc’s
has priced it U.S. IPO above the marketing range to raise
$1.78 billion, pointing to strong demand for bigger rival
Alibaba Group Holding Inc upcoming mega float.
Loss-making JD.com, backed by Saudi billionaire Prince
Alwaleed bin Talal’s Kingdom Holding Co, is set to
debut on Nasdaq on Thursday in what would be the biggest listing
of a Chinese company in the United States.