Asia Private Equity Weekly News, August 19, 2013

Sun Aug 18, 2013 9:15pm EDT
 
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HONG KONG, August 19 (Reuters) - News and developments in Asia private equity from Reuters News for the week ending August 16.

AUGUST 16

HUTCHISON WHAMPOA Ltd, controlled by Asia's richest man Li Ka-shing, has received at least seven offers for its Hong Kong supermarkets business, ParknShop, people familiar with the matter told Reuters.

INDIAN SNACK maker Balaji Wafers is in separate talks with private-equity funds, including Blackstone Group and Actis, to raise between $100 million and $125 million, two sources with direct knowledge of the matter told Reuters.

ALCO STORES Inc, the subject of a takeover offer by Altanta-based private investment firm Argonne Capital, said it had received a higher bid from its largest shareholder, Everbright Development Overseas Ltd.

AUGUST 15

KKR & CO LP is considering tapping the U.S. term loan B market to loosen covenants and possibly fund a dividend recapitalisation for Australian mining services provider BIS Industries, Basis Point reported citing sources.   Continued...