HONG KONG, Apr 29 (Reuters) – News and developments in Asia private equity from Reuters News for the week ending April 26.
TPG CAPITAL is putting China's UniTrust Finance & Leasing Corp up for sale, seeking $800 million, and has hired Morgan Stanley and UBS to handle the deal, people with knowledge of the matter told Reuters.
DISCOVERY METALS' top shareholder and former suitor, Chinese firm Cathay Fortune Corp, said it will not support the Africa-focused copper producer's plan to shore up its funding.
STANDARD CHARTERED Bank said it has hired Petter Sternby, the former head of Nomura's Asia FIG team as head, as head of Southeast Asia financial institutions coverage.
CHINA FOCUSED private equity firm Lunar Capital Management has taken a controlling stake for around $50 million in Guizhou Yonghong Food Co Ltd, which makes and sells beef products under the Bullhead brand, according to a source with knowledge of the matter.
LAW FIRM Morrison & Foerster said that Marcia Ellis has rejoined the firm as a corporate partner in the Hong Kong office, advising on debt financing, private equity transactions and cross border mergers and acquisitions.