HONG KONG, April 22 (Reuters) – (Reuters) – MBK Partners,
the South Korea-based private equity fund, has put its China
Network Systems (CNS) cable company up for sale, sources with
direct knowledge of the matter said on Thursday, in a deal that
could fetch around $2 billion.
MBK Partners has hired Morgan Stanley <MS.N> to advise on
the planned exit, the sources told Reuters. MBK, which manages
about $3.7 billion in assets, has 13 companies in its
portfolio. The buyout firm bought the business for $1.5 billion
HONG KONG/LONDON, April 16 (Reuters) – Prudential <PRU.L>
aims to gain approval for its Hong Kong listing next week,
sources with direct knowledge of the matter said, as it pushes
ahead to fund its $35.5 billion takeover of Asian rival AIA.
The British insurer is seeking the listing to lure Asian
investors to a $21 billion rights issue, launched to fund the
acquisition of American International Group’s (AIG) <AIG.N>
life insurance unit.
NEW YORK/HONG KONG (Reuters) – A wave of Chinese companies is washing up on U.S. stock exchanges, using transactions called reverse mergers in order to tap lucrative U.S. financing markets while bypassing normal procedures for initial public offerings.
With reverse mergers, the companies can get listed on U.S. stock markets without going through the more drawn out and expensive process of an IPO.
SHANGHAI/HONG KONG (Reuters) – Agricultural Bank of China <ABC.UL>, preparing for what is expected to be the world’s largest-ever initial public offering, named the banks it chose for its more than $20 billion dual-listing, in a selection that included a few surprises.
While it’s unusual for a company to announce underwriters before the IPO prospectus, AgBank went ahead and identified the banks handling the long-awaited offering, which some experts think could raise nearly $30 billion.
HONG KONG, April 14 (Reuters) – Agricultural Bank of China
(AgBank) [ABC.UL] has chosen the roster of banks to handle its
IPO, sources with direct knowledge of the matter said on
Wednesday, an offering expected to raise more than $20 billion.
A “kick off” meeting for the initial public offering of the
country’s fourth-largest lender is expected to begin on
Thursday, the sources said. If successful the IPO could be the
world’s largest ever, generating more than $400 million in fees
to be split among participating banks.
HONG KONG/CALGARY, Alberta, April 13 (Reuters) – A
subsidiary of China’s Sinopec Group <0386.HK><600028.SS><SNP.N>
agreed to pay $4.65 billion for ConocoPhillips’s <COP.N> stake
in a Canadian oil sands project, marking the country’s second
largest investment in North America.
China, Asia’s largest refiner, has been scouring the globe
and spending billions of dollars on energy resources to support
booming growth in the world’s third-largest economy.
HONG KONG/LONDON (Reuters) – China’s Zhejiang Geely Holding Group has lined up total financing of $2.7 billion to back its purchase of Ford Motor’s <F.N> Volvo car unit, sources said on Monday.
The extra $900 million above the reported purchase price will allow the Chinese auto maker to grow its business and draw down capital during fallow cycles in the auto industry.
HONG KONG/LONDON, March 29 (Reuters) – China’s Zhejiang
Geely Holding Group has lined up total financing of $2.7 billion
to back its purchase of Ford Motor’s <F.N> Volvo car unit,
sources said on Monday.
The extra $900 million above the reported purchase price
will allow the Chinese auto maker to grow its business and draw
down capital during fallow cycles in the auto industry.
HONG KONG/NEW YORK (Reuters) – After a dismal 2009, private equity fundraising appears to be showing signs of life In Asia, as investors bet on the region’s growth despite a lack of deal flow.
Robert Morse, Citigroup’s <C.N> former top investment banker in Asia, set out to raise money last year, with plans to launch a private equity/financial services firm.
HONG KONG (Reuters) – After leading a consortium in the $2.2 billion agreement to buy AIG’s <AIG.N> Taiwan life insurance unit, Primus Financial Holdings is now setting its sights on property owned by distressed sellers in the United States.
Primus is the $1.2 billion financial investment firm launched by Citigroup’s <C.N> former top Asia investment banker, Robert Morse. Morse is co-chairman with former HSBC <HSBA.L> investment banking head, Huan Guocang, and co-CEO with former Fubon Financial <2881.TW> managing director Wing-Fai Ng.