Author: Deal Street Asia Online News

mm2 Asia inks deal to sell COVID-hit cinema business to Kingsmead for $63m

The Singapore entertainment company mm2 Asia has entered into an agreement with local investment firm Kingsmead Properties to sell its cinema business, mm2 Connect, for S$84.8 million ($63 million). mm2 Asia operates the Cathay chain of cinemas in the city-state. The deal will require approval from the regulators, as well as approval from shareholders at… Continue reading mm2 Asia inks deal to sell COVID-hit cinema business to Kingsmead for $63m

India: Despite rising markets in 2021, fundraising via QIPs lags behind IPOs

More Indian companies raised capital through initial public offerings in 2021 than via qualified institutional placements (QIPs), indicating a trend reversal from 2020 when QIPs dominated the market. So far this year, 26 companies have raised ₹31,781 crore through QIPs. That compares with ₹60,288 crore raised through IPOs by 36 companies, data from Prime Database… Continue reading India: Despite rising markets in 2021, fundraising via QIPs lags behind IPOs

Prosus acquires Indian payments company BillDesk for $4.7b

Global consumer internet group and technology investor Prosus NV announced on Tuesday that an agreement has been reached between PayU and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for $4.7 billion. The proposed acquisition will see PayU, the payments and fintech business of Prosus which operates in more than 20… Continue reading Prosus acquires Indian payments company BillDesk for $4.7b

Indian debt platform Northern Arc Capital raises $50m from Japan’s JICA

Northern Arc Capital, a debt platform, on Tuesday announced that it has concluded a $50 million (about ₹365 crore) external commercial borrowing (ECB) transaction with the Japanese International Cooperation Agency (JICA), the company said in a statement. JICA is Japan’s governmental agency that works towards promoting economic and social growth in developing countries. Northern Arc… Continue reading Indian debt platform Northern Arc Capital raises $50m from Japan’s JICA

Temasek-backed alt protein startup Next Gen eyes expansion in the West

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading Temasek-backed alt protein startup Next Gen eyes expansion in the West

India: Xponentia Capital marks final close of its first fund

The final close of the fund was made earlier this year, said P.R. Srinivasan, Xponentia Capital’s designated partner. Xponentia Capital had not officially disclosed its target corpus, people familiar with the development had told VCCircle in 2018 that the private equity firm had planned to raise more than ₹1,000 crore. The private equity firm could not raise more… Continue reading India: Xponentia Capital marks final close of its first fund

Carlyle said to emerge as preferred bidder for Baring PE’s Hexaware in $3b deal …

Global private equity firm Carlyle Group has emerged as the preferred bidder for Baring Private Equity Asia’s (BPEA) Indian portfolio Hexaware Technologies in a $3 billion deal, two people with knowledge of the situation said. If successful, Carlyle would be winning a competitive bidding process against peer firms including KKR & Co and Bain Capital,… Continue reading Carlyle said to emerge as preferred bidder for Baring PE’s Hexaware in $3b deal …