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News and developments in Asia private equity from Reuters News for the week ending May 4.

MAY 4

U.S.-BASED Micron Technology is the likely winner in the bidding for Elpida Memory Inc, Japan's public broadcaster NHK reported, in a deal that would help the failed Japanese chipmaker sustain operations and repay creditors.

MAY 3

CHINA'S STATE-owned Bright Food Group has agreed to buy a 60 percent stake in British cereal firm Weetabix Food Co from private equity firm Lion Capital, which, if completed, would be its second successful overseas acquisition in less than a year.

SOUTH KOREAN electronics retailer Hi-Mart said on Thursday its top shareholders would resume an auction for a controlling stake in the firm after it avoided delisting over $228 million embezzlement charges brought against its top executives.

SHARES OF Carlyle Group LP ended trading almost flat on Thursday, in line with a low-key ceremony to mark its $671 million stock market debut and one day after the private equity firm had to discount its original IPO price range.

MAY 2

CHINA INVESTMENT Corp, the Belgian Federal Holding and Investment Co and Sino-Europe private equity fund A Capital said that they have established a fund to invest in European firms and boost their growth in China.

INDIA-FOCUSED private equity firm Jacob Ballas, backed by New York Life International, has invested $38 million in Marg Karaikal Port, a unit of MARG Ltd, for a minority stake, the south Indian infrastructure firm said.

MAY 1

POLYUS GOLD, Russia's largest gold producer, has sold a 7.5 percent stake to strategic investors including a subsidiary of China Investment Corp, raising $635 million and helping to boost its free float ahead of plans to apply for a premium listing in London.

APRIL 30

A GOVERNMENT review of Australia's media rules has recommended a major easing of cross-ownership restrictions on the nation's newspapers, television and radio networks in findings that could pave the way for more media consolidation.

AUSTRALIAN BUSINESS services firm Spotless Group agreed to a A$720 million ($752 million) takeover offer from Pacific Equity Partners, with the board saying it had bowed to shareholder pressure to accept an offer lower than it had sought.

PT MNC Skyvision, Indonesia's largest pay-TV provider, plans to launch an initial public offering by June this year as it aims to tap investor demand for consumer stocks in Southeast Asia's biggest economy, the CEO of its parent company said.