Chief Correspondent, Hong Kong
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Oct 26, 2011

Analysis: China expected to spurn Europe’s bailout fund

HONG KONG/NEW YORK (Reuters)- China is expected to steer clear of Europe’s bailout fund and its investment vehicles as regulators and politicians scramble to pull together a plan aimed at expanding the debt clean-up.

Instead it will continue to focus on specific countries and on specific assets in Europe, attaching diplomatic strings wherever possible and heeding the call from within its borders to be careful of wading too deeply into the euro zone mess.

Oct 21, 2011

Olympus’s $687 mln advisory fee sets M&A record

TOKYO, Oct 21 (Reuters) – The $687 million fee Japan’s
Olympus Corp paid its financial advisers for the $2.2
billion purchase of a British medical equipment maker is one for
the record books, literally.

The payment is the largest M&A fee ever made, Thomson
Reuters data on fee estimates shows, surpassing the previous
record of $217 million involved in the 70 billion-euro takeover
in 2007 of ABN AMRO by RFS Holdings, a vehicle set up by Royal
Bank of Scotland and others.

Sep 24, 2011

Job axe swings across Asia banking sector

HONG KONG/MUMBAI (Reuters) – Firings are picking up pace at foreign banks across Asia, with industry professionals and headhunters saying more rounds are set to come.

Since the 2008 financial crisis, Asia’s rapid economic growth led to an expansion of the banking industry in the region, with most foreign banks insulated from deeper cuts that occurred along the way in the United States and Europe.

Sep 23, 2011

Job axe swings across Asia banking sector; more to come

HONG KONG/MUMBAI Sept 23 (Reuters) – Firings are picking up
pace at foreign banks across Asia, with industry professionals
and headhunters saying more rounds are set to come.

Since the 2008 financial crisis, Asia’s rapid economic
growth led to an expansion of the banking industry in the
region, with most foreign banks insulated from deeper cuts that
occurred along the way in the United States and Europe.

Sep 2, 2011

Asia’s dealmaking Ong brothers join forces again

SINGAPORE/HONG KONG (Reuters) – The Malaysian-born Ong brothers, two of Asia’s best-known and experienced dealmakers, have joined forces again, linking up to chase investments in the fast-growing region.

Charles Ong, a senior managing director at Singapore’s Temasek Holdings TEM.UL, will join his brother Richard to advise on his $2.3 billion private equity firm RRJ Capital, the Singapore state investor said on its website.

Sep 2, 2011

Ong brothers, Asia’s 2 top dealmakers, combine again

SINGAPORE/HONG KONG, Sept 2 (Reuters) – Malaysia’s Ong
brothers, two of Asia’s most well-known and experienced
dealmakers, have joined forces yet again.

Charles Ong, a senior managing director at Singapore’s
Temasek Holdings , will join his brother to advise
Richard’s $2.3 billion private equity firm RRJ Capital, the
Singapore state investor said on its website.

Jul 6, 2011

Dealtalk: Diageo’s China deal signals rare breakthrough

HONG KONG/BEIJING (Reuters)- For executives and M&A advisers studying Diageo’s (DGE.L: Quote, Profile, Research, Stock Buzz) major step toward control of a Chinese white liquor maker last week, a celebratory clink and a toast of “ganbei” is in order.

After all, the approval from a key ministry for Diageo to take control of Sichuan Swellfun (600779.SS: Quote, Profile, Research, Stock Buzz), China’s fourth-largest premium white spirits maker by volume, confirms that foreign take-overs of Chinese brands are possible.

Jul 6, 2011

Diageo’s China deal signals rare breakthrough

HONG KONG/BEIJING, July 6 (Reuters)- For executives and M&A
advisers studying Diageo’s major step toward control of
a Chinese white liquor maker last week, a celebratory clink and
a toast of “ganbei” is in order.

After all, the approval from a key ministry for Diageo to
take control of Sichuan Swellfun , China’s
fourth-largest premium white spirits maker by volume, confirms
that foreign take-overs of Chinese brands are possible.

Jun 21, 2011

Bain Capital says launches new Asia fund, eyes Japan

TOKYO (Reuters) – Bain Capital said on Tuesday it has launched its second Asia fund, seeking a larger amount than the $1 billion it raised previously, with Japan remaining a key focus despite the devastating blow to the country’s economy from the earthquake in March.

Bain will concentrate on linking up with Japan corporates to pursue overseas acquisitions worth more than 100 billion yen ($1.25 billion), Shintaro Hori, chairman of Bain Capital Japan told the Reuters Rebuilding Japan Summit in Tokyo.

Jun 20, 2011

Carlyle Japan eyes industrials, domestic deals

TOKYO (Reuters) – Japan’s industrial, healthcare and technology sectors are the main focus for the Carlyle Group, the co-head of its Japanese unit said, as the firm looks to invest locally in the post-disaster environment in companies with a clear ability to compete abroad.

Carlyle, the only major private equity firm with a Japan-focused, yen-raised investment fund, will concentrate more on companies in the range of 10 billion yen to 40 billion yen ($125 million to $500 million), in the buyout firm’s efforts to keep its Japan investing going at a time when some of its peers are pulling back.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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