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Sep 17, 2014

IK Investment Partners seeks $900mln listing for offshore firm OV Group – sources

LONDON, Sept 17 (Reuters) – European private equity firm IK
Investment Partners has tapped JP Morgan and Morgan
Stanley to run a flotation of offshore services firm OV
Group that could value the company at $900 million, two sources
familiar with the matter said.

OV Group is targeting a Hong Kong listing, likely in the
first half of 2015, the sources said on Wednesday, cautioning
that the deal was still in its early stages and plans could
change.

Sep 15, 2014

Sinopec to sell $17.5 billion retail stake in privatization push

HONG KONG/BEIJING (Reuters) – State-controlled oil giant Sinopec Corp (0386.HK: Quote, Profile, Research, Stock Buzz) on Sunday unveiled a plan to sell a $17.5 billion stake in its retail business, marking the country’s biggest privatization push since President Xi Jinping came to power almost two years ago.

The sale is a reflection of the government’s drive to restructure the country’s many sprawling state-owned enterprises. PetroChina (0857.HK: Quote, Profile, Research, Stock Buzz), the nation’s No.1 energy producer, has divested part of its pipeline business, raising billions of dollars from domestic institutional investors.

Sep 11, 2014

China’s Tianhe denies overstating profits, cites investor support

SHANGHAI/HONG KONG (Reuters) – Tianhe Chemicals (1619.HK: Quote, Profile, Research, Stock Buzz) has denied allegations that it made false statements in its initial public offering prospectus and said key investor Morgan Stanley Private Equity Asia (MSPEA) has given it full support.

A report by Anonymous Analytics, which describes itself as a “faction” of the hacker group Anonymous, accused the Chinese chemicals company of conducting “one of the largest stock market frauds ever conceived,” based on analyses of different company reports, tax statements, market analysis and visits to customers mentioned in Tianhe filings.

Sep 8, 2014

Carlyle raises $3.9 billion for private equity’s second biggest Asia fund

HONG KONG (Reuters) – Carlyle Group (CG.O: Quote, Profile, Research), one of the world’s largest private equity firms, said on Monday it has closed its fourth Asia fund at $3.9 billion, the second-largest private equity fund ever raised for Asia investments.

The new fund adds to an estimated record $140 billion of uninvested capital, or dry powder, that private equity firms have raised for the region, prompting worries that there is too much money chasing too few deals.

Sep 8, 2014

Carlyle raises $3.9 billion for fourth Asia investment fund

HONG KONG (Reuters) – Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz), one of the world’s largest private equity firms, said on Monday it has closed its fourth Asia fund at $3.9 billion, the second-largest private equity fund ever raised for Asia investments.

The new fund adds to an estimated record $140 billion of uninvested capital, or dry powder, that private equity firms have raised for the region, prompting worries that there is too much money chasing too few deals.

Sep 7, 2014

Anonymous slings mud at China’s Tianhe, aims at Morgan Stanley

HONG KONG, Sept 8 (Reuters) – When stock researcher
Anonymous Analytics accused China’s Tianhe Chemicals
last week of doctoring the books ahead of a Hong Kong IPO, it
was pitting itself against one of Asia’s top private equity
firms, Morgan Stanley Private Equity Asia.

The Morgan Stanley private equity unit put up $300
million for a minority stake in Tianhe in 2012 after spending
over $2 million on third-party diligence work over a three-year
period, according to a source with knowledge of the matter.
Tianhe represents its biggest equity investment in Asia, while
the bank itself was one of the underwriters of the IPO in June.

Sep 2, 2014

KKR sells final stake in China Modern Dairy for about $80 million: source

HONG KONG (Reuters) – U.S. private equity firm KKR & Co LP has sold its remaining stake in China Modern Dairy Holdings, raising around $80 million, a source with direct knowledge of the matter said.

KKR (KKR.N: Quote, Profile, Research, Stock Buzz) sold around 168 million shares at HK$3.70 per share versus Monday’s closing price of HK$3.85, the source told Reuters on Tuesday.

Aug 27, 2014

Carlyle in talks to acquire Vanke’s China commercial properties

HONG KONG (Reuters) – Global private equity firm Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) is in talks with China Vanke Co Ltd (2202.HK: Quote, Profile, Research, Stock Buzz) to acquire some of Vanke’s commercial properties through assets or shares acquisition, the biggest Chinese property developer said on Thursday.

Vanke is negotiating with the private equity giant’s Carlyle Asia Investment Advisors Ltd and expects to enter a memorandum of understanding in the next few days, it said in a filing on the Hong Kong stock exchange. No details of the deal were given.

Aug 27, 2014

Carlyle in advanced talks to buy into Vanke’s China shopping malls -sources

HONG KONG, Aug 27 (Reuters) – Global private equity firm
Carlyle Group is in advanced talks with China Vanke Co
Ltd, the country’s largest property developer, to buy
stakes in nine of its shopping malls, two people with direct
knowledge of the matter told Reuters.

One of the sources said the deal was valued at between 6 and
7 billion yuan ($976 million to $1.14 billion), while the other
said it could be worth up to 10 billion yuan. Both declined to
be named as details of the discussions were private.

Aug 26, 2014

KKR agrees to buy 18 percent of China chicken firm for $400 million

HONG KONG (Reuters) – Private equity giant KKR & Co LP (KKR.N: Quote, Profile, Research, Stock Buzz) has made its fourth food safety-linked investment in China, agreeing to buy 18 percent of chicken producer Fujian Sunner Development Co Ltd 002299.SZ for $400 million, the two firms said on Tuesday.

The deal comes as food safety scandals plague the country. U.S. food maker Heinz apologized to Chinese consumers last week and said it would tighten controls over suppliers after it was forced to recall some infant cereal from store shelves due to excess levels of lead.