Panasonic Corp. ('Panasonic') has officially commenced the tender offer for the Tokyo Stock Exchange-listed Sanyo Electric Co., Ltd. ('Sanyo'). The acquisition could represent a total outlay of at least ¥402.3 billion (US$4.5 billion). Goldman Sachs, Daiwa Securities SMBC Principal Investment Co. Ltd. and Sumitomo Mitsui Banking Corporation are expected to sell a portion of their holdings in Sanyo. (Japan)

Unison Capital, Inc. confirmed reports that the Japanese Securities and Exchange Surveillance Commission conducted an investigation regarding an allegation of insider trading by a former partner at the firm. The firm also confirmed the referred partner has recently passed away. (Japan)

Global investors, including Abu Dhabi Investment Company and the US-based AC Development, are reportedly interested to take a stake in Daewoo Engineering & Construction Co. Ltd. ('Daewoo E&C'). The sale is part of Kumho Asian Group, controlling shareholder of Daewoo E&C, to improve its liquidity.
       In 2006, Kumho teamed up with some financial investors including KTBnetwork and Mirae Asset Management to buy out Daewoo E&C. (South Korea)

Siguler Guff & Company LLC ('Siguler Guff'), one of the most active fund of funds investors in Asian private equity, announced having sold a 20% interest of the firm and related entities to BNY Mellon Asset Management. Singular Guff is among the first to launch fund of funds that target the BRIC markets. (Offshore)

Morgan Stanley is reportedly attempting to sell its 34.3% stake in China International Capital Corp. ('CICC') again that is estimated to fetch around US$1 billion. The financial institution cancelled the sale of its stake in CICC in early 2008. CICC is China's first joint venture investment bank formed with a foreign institution. (People's Republic of China)

Aditya Birla Group is expected to announce the first closing of its maiden private equity fund, Aditya Birla Private Equity – Fund I, that has a target size of US$250 million. At the end of October, over US$100 million had been pledged to the fund. (India)

The National Development and Reform Commission and the Ministry of Finance of the People's Republic of China have signed an agreement with seven local governments to initiate 20 venture capital funds. The sponsoring parties will provide Rmb1 billion (US$157.7 milion) to seed these funds. (People's Republic of China)

The UK-based Aureos Capital is planning to launch Aureos South-East Asia Fund II, with a target fund size of US$250 million, according to the Financial Times. In 2004, the fund management firm launched its first fund for the South-East Asia region. (Southeast Asia)

The Hong Kong-based Emergent Investment Group ('EIG') has increased its holdings in McNally Sayaji Engineering Limited ('McNally Sayaji') by taking an additional 2.02% stake. The engineering company first received funds from EIG in August. (India)

TVS Capital Funds Ltd. has taken a significant minority stake in Landmark Ltd, a Chennai-based bookstore, for 650 million rupees (US$13.7 million). Landmark Ltd operates over 20 stores across major cities in India. (India)

Standard Chartered Bank, through its subsidiaries including Standard Chartered Private Equity, has committed 500 million rupees (US$10.8 million) to a host of instruments issued by PI Industries Ltd., which has one of the oldest and largest distribution networks in the agri-input sector in India.(India)

BancTec Japan Inc., majority-owned by JAFCO Co. Ltd., is to be privatised, with Chuo Mitsui Capital Co. Ltd. being invited to provide mezzanine financing. BancTec Japan is an IT company that is currently listed on the Jasdaq Securities Exchange and came under the control of JAFCO in 2002. (Japan)

Bain Capital LLC ('Bain Capital') has won exclusive bidding rights to acquire Bellsystem24, Inc. ('Bellsystem24'), according to market sources. Bellsystem24 came under the control of Nikko Principal Investments Japan Ltd in 2004 in a transaction that amounted to ¥239 billion (US$2.2 billion). (Japan)

Tsing Capital has made an investment of US$11.7 million in Beijing Goldenway Bio-Tech Co Ltd., which operates kitchen waste treatment stations and microbial factories. It had earlier received the backing of Goldman Sachs. (People's Republic of China)

The sale of Taikang Life has drawn interest from private equity institutions, according to domestic reports in China. The list includes Temasek Holdings, The Blackstone Group and Kohlberg Kravis Roberts & Co. The transaction is estimated to be worth US$1.05 billion.
       AXA Group is the party seeking to dispose of its holdings in Taikang Life.(People's Republic of China)

Silicon Paradise Venture Investment Co., Ltd. has agreed to invest Rmb100 million (US$14.7 million) in Zhejiang Zhongke Zhengfang Electronic Technology Co., Ltd., which focuses on automobile electronic products. (People's Republic of China)

Shenzhen Fortune Venture Capital Co., Ltd. has invested Rmb20 million (US$2.93 million) in Zhuhai Zhengcai Software Technology Co., Ltd., which provides e-commerce solutions mainly for government departments. (People's Republic of China)

TPG has sold its entire stake in department store chain operator Myer Holdings Ltd. ('Myer') at the company's initial public offering, and returned approximately A$1.6 billion (US$1.4 billion) to its coffers. TPG invested in Myer back in 2006. (Australia)

Archer Capital Pty Ltd and Ironbridge Capital Pty Ltd have reportedly shortlisted the buyers for iNova Pharmaceuiticals ('iNova'), a manufacturer of over-the-counter and prescription medicines. The financial investors bought iNova in 2006 for A$450 million (US$413.5 million). (Australia)

The US-based Expedia, Inc. has agreed to acquire kuxun.cn, a leading online travel-related web site in China. The details of the transaction were not disclosed. kuxun.cn is backed by NewMargin Ventures and SIG Asia Investments, LLP. Both had invested an aggregate US$12 million in kuxun.cn. (People's Republic of China)

Goldman Sachs has reportedly agreed to pare down its existing holdings in Shineway Group ('Shineway') to CDH Investments ('CDH'), one of the private equity investors in the company. The transaction is said to amount to US$150 million.
       Goldman Sachs and CDH took control of Shineway in 2006. (People's Republic of China)

Masan Group Corp. ('Masan'), which has recently raised over US$50 million from TPG and BankInvest, made its debut on the Ho Chi Minh Stock Exchange on 5th November. It offered its shares at VND36,000 (US$2) per share which closed at VND43,200 on its first day of trading. (Vietnam)

Mr Liu Tian Ming, former vice-president of Tongfang Co., Ltd., has joined SB China Venture Capital as a general partner. (People's Republic of China)