Author: Deal Street Asia Online News

Singapore’s Pavilion Energy appoints Alan Heng as interim CEO

Singapore’s Pavilion Energy on Wednesday said that its group chief executive, Frederic Barnaud, is stepping down and will be replaced on an interim basis by Alan Heng from Aug. 26. Barnaud, who joined Pavilion as CEO from Gazprom Marketing and Trading in early 2018, is returning to Europe to be with family, the company said. “We will embark on a process to identify… Continue reading Singapore’s Pavilion Energy appoints Alan Heng as interim CEO

Elevation Capital leads funding in Yellow Class and 17 other India deal updates

Yellow Class Gurugram 6 million Series A Elevation Capital India Quotient, Titan Capital, First Cheque, Vidit Aatrey, Alok Mittal, Vivekananda Hallekere, Maninder Gulati, Abhinav Sinha, Dhruv Agarwala, Alvin Tse Education/Training EdTech UpScalio Gurugram 42.5 million Series A Presight Capital Heliad Equity Partners, MPGI, 468 Capital, Whiteboard Capital, OfBusiness, Innoven Capital, Alteria Capital, Suhail Sameer, Radhika… Continue reading Elevation Capital leads funding in Yellow Class and 17 other India deal updates

China targets 43 apps including WeChat for breaking data transfer rules

China’s Ministry of Industry and Information Technology (MIIT) said on Wednesday that 43 apps, including Tencent Holdings Ltd’s WeChat, were found to have illegally transferred user data, and ordered their parent companies to make rectifications. The move comes as Chinese authorities tighten regulatory oversight on a range of industry, with a particular emphasis on privacy… Continue reading China targets 43 apps including WeChat for breaking data transfer rules

Permira mandates Goldman Sachs for up to $2b sale of business services firm Tricor …

Private equity firm Permira has mandated Goldman Sachs to run a sale of business services company Tricor Group in a deal that could fetch up to $2 billion, three people with knowledge of the transaction told Reuters. The sale process is expected to kick off soon after an initial gauge of market interest, said one of the… Continue reading Permira mandates Goldman Sachs for up to $2b sale of business services firm Tricor …

China’s Baidu launches US dollar bond amid regulatory uncertainty at home

Chinese internet giant Baidu Inc is tapping debt markets with a two-tranche, U.S. dollar sustainability bond in a deal that could test global investor appetite for China tech assets as Beijing cranks up regulatory scrutiny. The search company on Wednesday launched a 5.5 year and 10-year U.S. dollar fixed rate senior unsecured sustainable notes transaction. It didn’t… Continue reading China’s Baidu launches US dollar bond amid regulatory uncertainty at home

Philippine supermarket operator AllDay Mart files to raise $119m in IPO

Philippine supermarket operator, AllDay Marts Inc, has filed for an up to 6 billion pesos ($119 million) initial public offering (IPO), the corporate regulator said on Wednesday, adding to a robust pipeline of share sales on the country’s bourse. AllDay Mart is planning to sell up to 7.5 billion shares, including the over-allotment option, at… Continue reading Philippine supermarket operator AllDay Mart files to raise $119m in IPO

Indian Thrasio-style venture UpScalio snags $42.5m from Presight Capital, others

Gurugram-based UpScalio, a five-month-old e-commerce brand investor and operator, has raised $42.5 million in its Series A funding round led by Presight Capital and an undisclosed global hedge fund, per an announcement. The startup’s funding round also saw participation of Heliad Equity Partners, MPGI, 468 Capital, Whiteboard Capital, alongside capital commitments from a consortium of… Continue reading Indian Thrasio-style venture UpScalio snags $42.5m from Presight Capital, others

S Korean online secondhand marketplace Danggeun Market raises $162m

South Korea’s Danggeun Market, the company behind secondhand marketplace Karrot, has raised $162 million in a Series D led by DST Global, the investment firm headed by billionaire Yuri Milner. Aspex Management and Reverent Partners joined the round while existing investors such as Goodwater Capital, Altos Ventures, SoftBank Ventures Asia, Kakao Ventures, Strong Ventures and… Continue reading S Korean online secondhand marketplace Danggeun Market raises $162m

BlackRock Real Assets buys stake in Korea’s Brite Energy, to inject $100m “over time” …

BlackRock Real Assets, the realty investment arm of global asset manager BlackRock, is set to acquire an equity stake in Korean solar development and investment company Brite Energy Partners (BEP), according to a press announcement on Wednesday. Financial details of the transaction were not disclosed. As part of the deal, BlackRock Real Assets will provide… Continue reading BlackRock Real Assets buys stake in Korea’s Brite Energy, to inject $100m “over time” …