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Blackstone mulls tender offer for Unizo; KKR, GIC invest in Philippine hospitals

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Blackstone mulls tender offer for Unizo; KKR, GIC invest in Philippine hospitals

* Blackstone Group Inc. said it would consider "any possible options," including initiating a tender offer at ¥5,000 per share, if Unizo Holdings Co. Ltd. would not accept its roughly ¥171.1 billion takeover offer by Oct. 23, Reuters reported, citing the private equity giant. The Japanese hotel chain operator already rejected Blackstone's bid, but its largest shareholder, Elliott Management Corp., questioned Unizo's response to the proposal, as well as to other previous attempts from H.I.S. Co. Ltd. and SoftBank Group Corp.'s Fortress Investment Group LLC.

* The Philippines' largest hospital chain, Metro Pacific Hospital Holdings Inc., is getting 35.3 billion pesos in fresh capital from a consortium led by U.S. private equity firm KKR & Co. and Singapore's sovereign wealth fund GIC Pte. Ltd. The consortium will buy 41,366,178 new common shares in Metro Pacific Investments Corp.'s hospital unit for 5.2 billion pesos and will subscribe to Metro Pacific Investment's 30.1 billion-peso bond exchangeable for 239,932,962 common shares in Metro Pacific Hospital over the next decade.

Australia

* The Supreme Court of New South Wales approved Avid Property Group Australia Pty. Ltd.'s A$293.5 million takeover bid for Villa World Ltd. Villa World said it will apply for its shares to cease trading on the Australian stock exchange on Oct. 16, and expects the merger to complete on Oct. 30.

* Greg Miles is resigning as Scentre Group's COO ahead of his retirement in 2020, according to a news release.

* QIC Global Real Estate sold an integrated development in Brisbane to Shayher Group for A$395 million, IPE Real Assets reported. The divested Q&A Centre mixed-use complex is 79%-leased to tenants including the Commonwealth of Australia, National Australia Bank Ltd. and Citibank.

India

* Xander Investment Management Pte. Ltd. established a US$250 million industrial real estate fund to acquire logistics and e-commerce properties across India over the next 12 months, Mint (New Delhi) reported. The Xander Group Inc.-sponsored platform has secured capital from European investors, according to the publication.

Greater China

* Sun Hung Kai Properties Ltd. said it will waive rents and expenses on days its shopping centers are closed due to the protests in Hong Kong, the South China Morning Post reported. At least eight of the developer's shopping centers have been shuttered for days due to the protests.

* Minmetals Land Ltd.'s contracted sales for the nine months ended Sept. 30 rose 50.7% year over year to about 6.26 billion yuan, while China South City Holdings Ltd.'s contracted sales for the six months ended Sept. 30 grew 13.7% to HK$7.73 billion compared with the prior-year period.

* China Vanke Co. Ltd. will issue 500 million yuan of short-term commercial paper on Oct. 21 to repay debt and fund operating capital, Beijing News reported.

Singapore

* Tuan Sing Holdings Ltd.'s Superluck Properties Pte. Ltd. subsidiary is issuing S$200 million of 2.8% secured senior notes due Oct. 18, 2022, under its S$500 million multicurrency medium-term note program. Net proceeds from the issuance will be used to refinance existing borrowings and for Superluck's future growth and development initiatives.

Japan

* Sohgoh Real Estate Co. Ltd. completed its development of a nine-story, 62-room hotel in Tokyo's Azabu-Juban residential district, Jutaku-Shimpo-Sha reported. The Lively Azabu-Juban project is scheduled to be opened Nov. 1.

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The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Aries Poon, Emily Lai and Jaekwon Lim contributed to this report.