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The pending 18-month suspension from acting as a sponsor, along with a $15 million fine, reportedly stems from UBS’ work on a 2009 IPO by China Forestry Holdings. That company was halted from trading two years later amid an accounting scandal and later entered liquidation proceedings.
Baring PE Asia, Taiwan’s Cathay Financial Holding, and South Korea’s Shinhan Financial Group are among bidders for a stake in PT BFI Finance Indonesia.
MMI is the oldest Asian investment listed in the PE firm’s portfolio.
The larger bonuses in Asia mark a reversal from the previous year, when the regional investment banking payout pool was cut by about 15%.
A sale could value Nature’s Care, which is controlled by the Wu family, at about $559 million
Among the recent additions are Michael Parry, who joined from Goldman Sachs as a director focused on Asian equity sales.
UBS is ahead of its plan to double headcount in China over a five year period.
KKR, famed for its pioneering role in the leveraged buyout business in the 1980s, has raised $9.3 billion for its third Asia fund.
Having a partner who’s a willing seller gives Goldman Sachs a clear path to equity control of its business in Asia’s largest economy.
The fund plans to target investments in consumer, tech, logistics and financial services industries.