REDgroup Retail, wholly owned by Australasian private equity investor Pacific Equity Partners, is reportedly likely to breach its covenants. According to market sources, at the end of last August it had racked up debts of NZ$131 million (US$95 million), up from NZ$122 million in the previous year. (Australia and New Zealand)

Ausfuel, controlled by Archer Capital, is believed to be in talks with rival Gull Petroleum for a merger deal. The merged entity could be valued at A$500 million (US$457 million). (Australia)

Trony Solar Holdings Co., Ltd., backed by JP Morgan Special Situations (Mauritius) Ltd. and Intel Capital, has decided to withdraw its initial public offering, citing poor general market condition as the reason. (People's Republic of China)

China Investment Corporation ('CIC') is said to make various investments this week, according to various reports. CIC may invest up to US$25 billion in Indonesia. (Indonesia)

Mizuho Securities Co., Ltd. announced a limited liability partnership agreement with Tata Capital Pte. Ltd., to form their joint venture Tata Capital General Partners LLP, which will launch a private equity fund. (India)

Temasek Holdings Pte Ltd. has reportedly led a consortium to invest in Tudou.com ('Tudou') for US$50 million. Earlier, Tudou has raised capital from private equity investors including JAFCO Asia, IDG Capital Partners and GGV Capital. (People's Republic of China)

Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. will commit Rmb500 million (US$73.8 million) to Shanghai Financial Industry Development & Investment Fund L.P., the first industrial fund for Shanghai. (People's Republic of China)

Everstone Capital Management is believed to have achieved the first closing of its latest fund Indivision India Partners II ('Indivision II') at US$250 million. Indivision II has a target size of US$550 million. (India)

The Singapore government's Media Development Authority and China-based Gobi Partners, Inc. have set up a fund with a target size of S$100 million (US$74 million), according to local reports (People's Republic of China and Singapore)

Zheshang Industrial Investment Fund, the first railway-focused industrial fund in China, has completed its first closing at Rmb5 billion (US$738 million). It has enlisted Bank of China Group Investment Ltd. as one of its cornerstone investors. (People's Republic of China)

Aussie online shopping platform Ozsale has received A$14.5 million from US-based private equity firm Insight Venture Partners, according to local reports. (Australia)

US-based Canaan Partners has invested around 400 million rupees (US$8.67 million) in Naaptol.com for nearly 25% stake, according to local reports. (India)

Inventus Capital Partners, based in the Silicon Valley, has reportedly invested around 30 million rupees (US$0.64 million) in Wealth India Financial Services Pvt. Ltd. (India)

Valiant Partners Co., Ltd. has successfully completed its tender offer for Fuji Foods, Inc. ('Fuji') for ¥3.1 billion (US$36 million). Fuji is listed on JASDAQ. (Japan)

Silver Lake has announced the acquisition of a majority stake in Allyes Online Media Holdings Ltd. ('Allyes') for US$182 million. Allyes came under the control of Focus Media Holding Ltd. in 2007. (People's Republic of China)

A consortium of investors led by JAFCO Asia has invested US$8 million in Ultizen Games Ltd., an online games developer in China. Other investors include Hotung Group and Tokio Marine Investment Services Ltd. (India)

Qiming Venture Partners has provided US$10 million to Shanghai Sangon Biological Engineering Technology & Services Co., Ltd. and Bio Basic Inc. The latter is a Toronto-based life science research company. (People's Republic of China)

CVC Asia Pacific Ltd. and Standard Chartered Private Equity Ltd. have teamed up to acquire Avdel and Global Electronics & Commercial, subsidiaries of US-based Acument Global Technologies. The acquired assets will be merged and rebranded as 'infastech'. (Singapore)

UK-based Aureos Capital Ltd. will acquire 18.5% of Hanoi-listed Tran Anh Digital World Co ('Tran Anh') for US$4.2 million. (Vietnam)

Zhengzhou Coal Mining Machinery Group Co., Ltd. ('Zhengzhou Coal'), backed by Shenzhen Capital Group Co., Ltd., was listed on the Shanghai Stock Exchange. Zhengzhou Coal is a manufacturer of hydraulic support systems for the coal industry. (People's Republic of China)

Wuxi Baichuan Chemical Industry Co., Ltd. ('Baichuan'), backed by Haitong-Fortis Private Equity Fund Management Co., Ltd., was listed on the Shenzhen Stock Exchange. Baichuan is a leading high-tech fine chemical products manufacturer. (People's Republic of China)

Ambow Education Holding Ltd., an e-learning technology and service provider in China, was listed on the New York Stock Exchange. Its investors include The CID Group, Actis and JAFCO Asia. (People's Republic of China)

Consciencefood Holding Ltd., backed by UOB Capital Partners LLC, was listed on the Singapore Stock Exchange. It offered shares at S$0.22 (US$0.16) each. The share price rose 36% on its first day of trading. (Singapore)

MCap Fund Advisors has named two new appointments: Mr Rahul Gupta, who was previously at Citigroup's chief risk officer in India; and Mr Abhilash Lal, who was a director from a real estate consultancy DTZ. (India)