Aston Tan
Korea's Hana bank has reportedly edged out Australia and New Zealand Banking Group with an offer of up to $4.1bn for all Lone Star Funds' holdings in Korea Exchange Bank.
The private equity firms are bolstering their Australian assets with a minority stake, estimated worth $60m to $80m, in the online foreign exchange service provider.
The Asian Development Bank has pledged to support the Asia Water Fund,a water infrastructure private equity fund launched by Singaporean Konzen Group and Malaysian AmInvestment Bank in 2008.
Alex Cho will lead the Seoul office and head Korean activities, which will have an emphasis on direct investment.
US President Obama announced the commitment from the Overseas Private Investment Corporation (OPIC) during his recent visit to India.
The offer reportedly still falls short of would-be vendor Lone Star's expectations.
The fund, which is targeting $500m, will invest in UK SMEs looking to expand into China.
The global investor has edged out rival Bain Capital to acquire an equity stake in the software maker.
The global investor has agreed to divest its 30 percent holdings in China's Inpac International to trade buyer Stora Enso, marking its second Asian exit this month.
At the company’s annual general meeting, its chairman told reporters the company was not currently in talks with any private equity firm about the sale of Treasury Wine Estates, but would consider ‘any offers if they are made’.