Financials

Nomura may partner MBK on KEB as StanChart withdraws

Leading Japanese brokerage and financial group Nomura Holdings is discussing a partnership with regional buyout firm MBK Partners to make a joint bid for Lone Star Funds’ 51.5% stake in Korea Exchange Bank, expected to go for $3.5-4 billion.

Primus Nan Shan deal amended

Primus Financial Holdings and China Strategic Holdings Ltd. have amended their $2.15 billion joint agreement to buy Nan Shan Life Insurance Company in Taiwan from American International Group, Inc., placing $325 million in an escrow account for a four-year...

Temasek slated for $300 million in AgBank IPO

Singapore SWF Temasek Holdings is now looking to invest some $300 million in the upcoming listing of Agricultural Bank of China, which is expected to raise between $20 billion and $30 billion in the world's biggest IPO to date, according to reports.

StanChart rules out KEB move

Standard Chartered has indicated that it will not be pursuing a bid for Korea Exchange Bank (KEB), further dampening expectations of a highly contested auction for Lone Star Funds' 51% stake in the asset.

Indian government may limit Temasek, GIC ICICI holdings

The Indian finance ministry and the Reserve Bank of India have lodged a query with the Securities & Exchange Board of India (SEBI) over a proposal that Temasek Holdings and the Government of Singapore Investment Corporation (GIC) should increase their...

KEB auction cooling as ANZ commitment flags

The sale of Lone Star Funds' 51% stake in Korea Exchange Bank (KEB) appears to be losing momentum, as hitherto lead contender Australia and New Zealand Banking Group Ltd. has yet to submit a formal bid for the stake, which could fetch up to $4 billion....

New suitor for Primus investee EON

Malaysian lender Affin Holdings has sought regulatory permission to start discussions with shareholders of EON Capital, including 20.2% stakeholder Primus Pacific Partners, for a possible bid for the company.

MBK in running for KEB? - reports

Independent pan-Asian buyout firm MBK Partners may be seeking a secondary buyout opportunity from Lone Star Funds for its 51% stake in Korea Exchange Bank (KEB), valued at up to $4 billion, according to unconfirmed media reports.

HSBC private equity units could spin out

HSBC could be on the verge of spinning off its private equity units, including HSBC Private Equity Asia and HSBC Asian Ventures, through a series of MBOs, following growing regulatory and financial industry pressure for major banks to shed such capabilities....

KEB low-ball bid reports false

Korean media reports suggesting that Australia & New Zealand Banking Group (ANZ) and Standard Chartered Bank submitted low bids for Lone Star Funds' 51% stake in Korea Exchange Bank (KEB) at $3.32 billion or less were false - at least according to ANZ...

Argonaut now in top BSE shareholders

Argonaut Ventures, an Oklahoma-headquartered private equity group, is now one of the top 20 shareholders in the Bombay Stock Exchange, which is still awaiting regulatory approval for a listing from India's SEBI, following its demutualization three years...

MENA SWFs eyes Agricultural Bank of China IPO

The Kuwait Investment Authority has emerged as one of the SWFs interested to invest in the IPO of the Agricultural Bank of China (ABC) in Shanghai and Hong Kong this year, with plans to invest some $1 billion in what would be the year's largest listing,...

CICC targets $300m fundraising

China International Capital Corp. (CICC), the country’s biggest investment bank, targets to raise a $300 million private equity fund this September, seeking to achieve an annual IRR of 25% from domestic private equity opportunities.

Omidyar recruits Mantha for philanthropy

Omidyar Network, the philanthropic investment firm founded by eBay founder Pierre Omidyar, has engaged Surya Mantha, previously with India's Network18 media conglomerate, as Director, Investments.

CSRC review of MS CICC stake sale begins

Morgan Stanley has begun the formal application process to the China Securities Regulatory Commission (CSRC) for the sale of its 34.3% stake in PRC investment bank China International Capital Corp. (CICC).

IFC plans socially-focused India deals

The International Finance Corporation (IFC), the private sector arm of the World Bank, is working on two Indian socially-focused deals: a $25 million commitment to hospital chain Max Healthcare Institute, and participation in a $2.6 million fundraising...

Shinsei, Aozora call off bank merger

Shinsei Bank, 33% owned by US private equity group JC Flowers & Co., and Aozora Bank, 50.5% owned by Cerberus Capital Management, have called off their merger plan, due to many outstanding differences over business operations.

Goldman Sachs close to Taikang win

A consortium led by Goldman Sachs is close to finalizing negotiations for the 15.6% stake in the PRC's Taikang Life Insurance Corp. owned by France’s insurance giant AXA, for about $1 billion.

Norway's NMI supports Chennai microfinance

Norway's NMI Frontier Fund has joined existing investors International Finance Corporation (IFC), Swedfund (the Swedish Development Finance Institution), and Aavishkaar Goodwell, committing $900,000 into Belstar Investment and Finance, a Chennai microfinance...

TPG clear to exit China bank to Ping An

TPG Capital's groundbreaking early investment in China’s banking sector appears close to an exit in its sale of its c.16.76% stake in Shenzhen Development Bank to local insurance giant Ping An Insurance Group.

JPMorgan moves Chatterji to India

JPMorgan has transferred Rohit Chatterji, hitherto head of Asia debt capital markets, to India, where he will be Vice Chairman and Head of Investment Banking for the Subcontinent.