Sharon Lim

Buyout interest in Coles ends as Wesfarmers continues

All eight of the large buyout firms in the race to buy Coles Group, Australia’s second largest retailer, have now dropped out of the running. Trade buyer Wesfarmers is now expected to complete the $19 billion transaction, which will be the largest in the country to date, without private equity support.

Macquarie Infrastructure buys 20 percent of Taiwan Broadband

Macquarie International Infrastructure Fund has bought a 20 percent stake in Taiwan Broadband Communications for $178 million. The controlling shareholder in TBC is Macquarie Media Group which holds a 60 percent stake.

Advent Private Capital appoints investment manager

Advent Private Capital, an Australian private equity firm has hired an investment manager to add to a 5-strong investment team after the mid-market specialist closed a fifth fund on A$300 million late last year.

TPG, Affinity make $1.4bn offer for UTAC(2)

TPG Capital and Affinity are proposing to delist a Singapore-listed semiconductor company for $1.4 billion. The offer follows a failed $1.6 billion buyout offer from Temasek Holdings for STATS ChipPac, another Singapore-listed chip company.

DLA boosts Beijing team(2)

DLA has recruited Steven Liu from Heller Ehrman to join its Beijing office as a partner. Liu is the sixth legal professional to join DLA Beijing in the last six months.

Longreach to acquire control of Taiwan’s EnTie Bank(3)

The Longreach Group, a largely Japan-focused private equity firm, has joined a number of other international buyout firms to invest in a bank in Taiwan where the fragmented industry is undergoing consolidation.

Cerberus sought to bail Japan’s JVC(3)

Kenwood, a Japanese maker of audio equipment may reportedly seek financial backing from Cerberus to bid for JVC, a Japanese consumer electronic brand that TPG had been keen to acquire. Talks between TPG and JVC parent Matsushita are believed to have collapsed.

Istithmar acquires control stake in $130m Bangkok hotel(2)

Istithmar has acquired a control stake in a $130 million hotel being developed in the heart of Bangkok’s commercial district. It is the latest in a series of planned investments in the region by the Dubai-based group.

Dragonvest funds Chinese gaming developer(2)

Dragonvest Partners has invested $1.5 million in a Series-A round in a Chinese game development and outsourcing company to expand its international operations and Shanghai studio.

Longreach to acquire control of Taiwan’s EnTie Bank(2)

The Longreach Group, a largely Japan-focused private equity firm, has joined a number of other international buyout firms to invest in a bank in Taiwan where the fragmented industry is undergoing consolidation.