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Asia Private Equity Weekly News, March 19, 2012

(Reuters) – News and developments in Asia private equity from Reuters News for the week ending March 16.

 MARCH 16

PRIVATE EQUITY firm CVC Capital Partners Ltd is pulling out of Australia, Asia-Pacific’s biggest buyouts market, as it faces one of the largest ever losses for a firm in the region and rapidly fading bank support, people familiar with the situation said.

PT MNC Skyvision, Indonesia’s largest pay TV provider, has re-initiated a plan to raise $300-400 million via an initial public offering in June after scrapping the issue last year, three sources with direct knowledge of the plan said.

 MARCH 15

SOUTH KOREA’S LIG Group is auctioning an up to 49 percent stake in unlisted defence unit LIG Nex1, a deal that could raise as much as $400 million, according to sources with knowledge of the matter.

CHINA INVESTMENT Corp has signed a deal with Poland’s foreign investment body PAIiIZ that could see China’s $410 billion sovereign wealth fund snap up assets in the European Union’s largest eastern member in coming years.

NATIONAL AUSTRALIA Bank Ltd has sold its entire A$86 million ($90 million) exposure in debt-ridden Nine Entertainment at 86 to 87 percent of par value, banking sources familiar with the deal said.

CASINO OPERATOR Galaxy Entertainment Group Ltd said last Thursday that annual net profit jumped more than threefold, although just short of expectations, as wealthy Chinese flocked to its new $2 billion casino, the only one to open in Macau last year.

MARCH 14

GLOBAL ASSET manager Fidelity Investments plans to launch its biggestChina venture capital fund next year worth at least $250 million despite ongoing market volatility, underlining its confidence in the country’s growth outlook, a senior executive said.

INDIA’S MANAPPURAM Finance Ltd’s founder sold an about 4 percent stake to three large private equity funds, including Baring Private Equity and Sequoia, for about $28.9 million, exchange data showed.

 MARCH 13

UAE TELECOM operator Emirates Telcommunication Corp Ltd plans to sell its entire 13.29 percent stake in Indonesia’s No.3 telephone company PT XL Axiata, to raise $600-700 million this year, sources said.

U.S. auto repair chain Midas Inc said it has agreed to be bought by TBC Corp, a unit of Japan’s Sumitomo Corp , for $173 million in cash.

INDIAN PRIVATE equity fund TVS Capital and International Finance Corp, an arm of the World Bank, have jointly invested 1.24 billion rupees ($24.81 million) in Indian rice processor, Dunar Foods.

 MARCH 12

INTERVIEW-ADVANTAGE Partners said it may seek to extend the June deadline for investments from its $2.7 billion private equity fund, Japan’s largest.

U.S. PRIVATE equity firm Warburg Pincus LLC and International Finance Corp have jointly invested $50 million in Indian non-banking finance company, Au Financiers (India) Pvt Ltd.

MALAYSIA’S STATE investment arm, Khazanah Nasional Bhd , has sold its 4.2 percent holding in Indian private sector lender Yes Bank Ltd for about $105 million in market block deals, two sources with direct knowledge of the deal said.

A UNIT of Rupert Murdoch’s News Corp sold its 17.3 percent stake in Indian cable television services provider Hathway Cable and Datacom Ltd for 3.6 billion rupees ($72 million).

HAITONG SECURITIES Co Ltd, China’s No.2 brokerage by assets, is in early April set to make its second attempt to list in Hong Kong, with a share offering of about $1.5 billion, Thomson Reuters publication IFR reported.

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