News and developments in Asia private equity from Reuters News for the week ending Sept. 7.
SEPT 7
AUSTRALIAN TELEVISION network Nine, owned by private equity firm CVC Capital Partners Ltd, will soon start talks for the first time with the hedge funds that own most of its A$2.7 billion ($2.75 billion) in debt, two sources said.
A JOINT Russian-Chinese fund will invest over $200 million in a Russian forestry company under a preliminary deal announced on Sept. 7 on the fringes of a summit held to promote economic cooperation in the Asia-Pacific region.
SEPT 6
ASIA PRIVATE equity fund RRJ Capital, led by the Ong brothers, two of Asia's top dealmakers, has invested $50 million in a China biotech firm in one of the country's fastest growing healthcare sectors, according to a source with direct knowledge of the matter.
U.S. PRIVATE equity firm Bain Capital LLC has matched a $700 million takeover offer for Australia's Billabong International Ltd from TPG Capital, sources familiar with the matter said, improving the odds the struggling surfwear brand will agree to a sale.
SEPT 5
A CONSORTIUM led by a Morgan Stanley infrastructure fund has made a second $150 million investment in unlisted Chinese hydropower company Zhaoheng Hydropower Holdings Ltd, Zhaoheng said.
SEPT 4
AUSTRALIA'S HEAVILY indebted Nine television network, owned by private equity firm CVC Capital Partners, sold its ACP Magazines division for around A$500 million ($512 million) with the proceeds going to pay down debt, Nine said.
SEPT 3
BLACKSTONE GROUP LP has invested 2.43 billion rupees ($43.69 million) to buy a significant minority stake in unlisted Indian fragrance maker SH Kelkar & Company, the firms said in a joint statement.
SEPT 1
THE HEAD of Indiareit Fund Advisors, an Indian real estate fund and unit of drugmaker Piramal Healthcare, has decided to step down to explore setting up his own fund, sources familiar with the development told Reuters.
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