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Weekly Asia News (Friday)

China XD Plastics secures USD100m equity investment by MSPEA

Morgan Stanley Private Equity Asia (MSPEA) has agreed to make a USD100 million equity investment for a significant minority ownership stake in China XD Plastics Company Limited, one of China’s leading players engaged in the development, manufacture, and sales of modified plastics primarily for automotive applications, subject to certain customary

Cadwalader adds structured finance lawyer to Hong Kong office

Structured finance and derivatives lawyer Jeffrey H Chen has joined Cadwalader, Wickersham & Taft’s Hong Kong office as partner.  Chen, formerly with Mayer Brown JSM in Hong Kong, will be a part of the Capital Markets team. "Jeff is a highly regarded capital markets lawyer.  He brings to Cadwalader extensive

Sean Cheong and Rachel Leong, Collas Crill

Collas Crill open for business in Singapore

Collas Crill has opened the doors to its new Singapore office – making it the first Channel Islands-based law firm to do so. Sean Cheong, formerly a partner in Collas Crill’s Guernsey office, has relocated to Singapore to head up the new office. She has been joined by office manager

HNA Group and Bravia Capital to acquire GE SeaCo

HNA Group Company Limited (HNA) of China, a leading diversified services and integrated operations company, and Bravia Capital (Bravia) of Hong Kong, have agreed to acquire GE SeaCo, subject to customary regulatory and shareholder approvals. GE SeaCo is the fifth largest player in the global marine container leasing industry owning

Actis exits its stake in Asia Books

Berli Jucker Public Company Limited has acquired 100% of Asia Books from Actis and Thailand Equity Fund (TEF). This exit marks the culmination of Actis’s five year investment in Thailand’s leading retailer and wholesaler of foreign language books and magazines. Actis completed the MBO of Distri-Thai in 2006. Distri-Thai was

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China Auto Logistics announces USD5.25m PE placement above market price

China Auto Logistics Inc, one of China’s leading developers of automobile-related websites, a top seller in China of imported luxury vehicles and a leading provider in China of automobile-related services, has successfully closed the sale on 1 July of three million unregistered common shares to accredited individual investors at an

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GSR Ventures raises USD350m for fourth fund to invest in China

GSR Ventures, the early-stage technology venture capital firm, has closed a new USD350 million fund to invest in China. The fund was substantially oversubscribed with more than 80% of the capital from existing investors. This is the firm’s fourth fund. GSR now has more than USD1.0 billion under management. The

Ogier expands into mainland China

Ogier has opened an office in Shanghai as the offshore law firm further expands its worldwide network. The move is at the heart of Ogier’s strategy to provide the most innovative and comprehensive multi-jurisdictional services, through a significant presence in each of the world’s key financial centres and across all time

Guernsey fund administrator launches China offering

Guernsey-headquartered International Administration Group (IAG) has announced that it is to offer fund administration services in China. IAG is forming a joint servicing platform with Exceedor in Shanghai that will allow it to offer onshore RMB denominated private equity fund administration services in China. The formation of a Shanghai operation

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