July 14, 2008

News Flash

BREAKING NEWS

Funds and Investments Up, but Returns Down for the First Half

Funds
US$26.5 billion of fresh capital came into the market, a 33.3% increase compared to the same period in 2007

Investments
US$30.5 billion of transaction aggregate was recorded, a 52.6% increase compared to the same period in 2007

Divestments
US$6.9 billion has been returned to investors for aggregate invested capital of US$1.95 billion, a decrease of 18.25%



NEWS

56.com is Back Online

Private equity-backed 56.com resumed its operations on 11th July, ending a month-long hiatus and market speculation about its future. The domestic video-sharing website is backed by a host of private equity investors, including Sequoia Capital China, SIG China, HIKARI Private Equity, CID Group, and Steamboat Venture. (People's Republic of China)




Trading of Asia Media Suspended

Asia Media Co. Ltd., backed by Sequoia Capital China, has been suspended from trading. This followed misappropriation of funds by the company's former chief executive officer. (People's Republic of China)




No Green Light from Regulators on Carlyle's Bid for CATV

The Carlyle Group's NT$20 billion (US$654 million) bid for a 67% equity stake in Cable-Giant CATV Co. Ltd has expired without approval from Taiwan's Ministry of Economic Affairs. (Taiwan)



INVESTMENTS

Warburg Pincus to Inject US$30 Million in WNS

Warburg Pincus is reportedly funding WNS Holdings Ltd.'s ('WNS') acquisition of Aviva Global Services with a US$30 million injection of fresh equity capital. WNS, in which Warburg Pincus is a majority shareholder, is a leading provider of global business process outsourcing services. (India)




Axis PE Records Strong Deal Flow

Axis Private Equity confirmed that it has invested an approximate US$15 million in the Hyderabad-based Vishwa Infrastructure & Services. Earlier, Axis Private Equity had made commitments to Harish Chandra India Ltd., Neesa Leisure Ltd., and Corrtech International Pvt. Ltd. (India)




SAIF Makes More Shoppings in India

SAIF Partners is pumping an additional US$16 million into HomeShop18, a domestic home shopping network it helped launch in 2006. (India)




Jacob Ballas Takes a Drug Formula

Jacob Ballas Capital India Pvt. Ltd has taken an equity stake in Themis Laboratories Private Limited for 900 million rupees (US$20.8 million). Themis Laboratories is a leading pharmaceutical company that specialises in developing and manufacturing pharmaceutical formulations using novel drug delivery systems. (India)




Aussie Investors Seek Talents in China

Macquarie Capital has joined Seek Ltd., an Australian online recruitment company, in a US$110 million commitment to Zhaopin.com, a leading employment website in China. Zhaopin plans an initial public offering by 2010. (People's Republic of China)




Qiming Develops Clinical Research

Qiming Venture Partners has reportedly committed US$5 million to Tigermed Consulting Ltd., a contract research organization specializing in pharmaceutical research and development at the clinical stage. (People's Republic of China)




Walden International Buys Online Shopping with Investor AB

Walden International and Investor Growth Capital Asia are to commit a combined US$15 million to Liba.com, according to local sources. Liba provides information on wedding-related products and services, home decorations, and driving lessons. (People's Republic of China)




Carlyle Invests in Troubled Additive Maker

The Carlyle Group announced a US$87 million investment in Sinorgchem (Group) Co., a manufacturer of chemical additives in rubber products. Sinorgchem was established in 1999 and is the largest Chinese supplier of additives in the production of rubber products. (People's Republic of China)




CLSA Knits Fibre Glass Yarn

CLSA Capital Partners has committed NT$900 million (US$30 million) to Fulltech Fiber Glass Corp. in exchange for convertible bonds issued via private placement. (Taiwan)




Morgan Stanley Makes More Deposits in Taiwan

Morgan Stanley Private Equity Asia has reached an agreement with E. Sun Financial Holding Co. Ltd. in which the private equity firm will take up a board seat in the bank. According to domestic media reports, E. Sun is to issue US$200 million worth of convertible bonds to the private equity investor. (Taiwan)



DIVESTMENTS

SinoMedia Made Its Own Public Advertisement

SinoMedia Holding Ltd., backed by Bain Capital, made its first debut on the Stock Exchange of Hong Kong on Tuesday, 8th July. On its first day of trading, its share price closed at HK$2.62 (US$0.336), a drop of 0.4% from its offer price of HK$2.63. (People's Republic of China)



PEOPLE ON THE MOVE

Ms. Josephine Price

Ms. Josephine Price, Deputy Chief Executive Officer of CLSA Capital Partners, has resigned, concluding a tenure of 15 years. (Hong Kong)




Mr. Wei Zhu

CVC Asia Pacific has opened its Beijing office and appointed Mr. Wei Zhu, former Managing Director of Goldman Sachs Gao Hua Securities Ltd., as its Managing Director and Head. (People's Republic of China)







Stay tuned for APER's forthcoming issue for full coverage of the above!

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