South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday. eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020, according to Euromonitor – is on sale for what eBay hopes could be up to 5 trillion won ($4.5… Continue reading South Korean retail firms Lotte, Shinsegae bid for eBay unit
Author: Deal Street Asia Online News
SoftBank-backed construction startup Katerra files for bankruptcy protection in US
Construction startup Katerra Inc, which is backed by SoftBank Group Corp, said on Sunday it has filed for bankruptcy protection in the United States. Katerra said it had secured commitments for $35 million in debtor-in-possession (DIP) financing from SB Investment Advisers (UK) Limited to fund operations during the Chapter 11 process, adding that the company’s international operations are… Continue reading SoftBank-backed construction startup Katerra files for bankruptcy protection in US
HSBC veteran Hitendra Dave to be new India CEO
A Swiss International aircraft flies past the HSBC headquarters building in the Canary Wharf financial district in east London February 15, 2015. REUTERS/Peter Nicholls HSBC has appointed Hitendra Dave as the interim chief executive officer of HSBC India with effect from today. Dave’s formal appointment as the CEO is subject to regulatory approval. Dave succeeds… Continue reading HSBC veteran Hitendra Dave to be new India CEO
ASX-listed Altium rejects $3.9b takeover bid from US peer Autodesk …
Australia-listed software maker Altium Ltd on Monday rejected a buyout proposal from American peer Autodesk Inc that valued the company at A$5.05 billion ($3.91 billion), saying it “significantly undervalued” its prospects. The U.S. firm, which makes architecture designing software AutoCAD, offered Altium A$38.50 for each share, a 41.5% premium to its last closing price. Altium‘s shares soared as much… Continue reading ASX-listed Altium rejects $3.9b takeover bid from US peer Autodesk …
Sina-led consortium said to be in advanced talks to buy stake in Yoozoo Games
A consortium led by Chinese internet major Sina Corp is in advanced talks to acquire at least 18% of Yoozoo Games, two people with direct knowledge of the matter told Reuters. Sina is teaming up with China’s Twitter-like Weibo Corp and one Shanghai-based state investment firm, said the people who declined to be identified due to confidential… Continue reading Sina-led consortium said to be in advanced talks to buy stake in Yoozoo Games
Australia’s Hansen Technologies gets $1b buyout offer from BGH Capital
Hansen Technologies on Monday received a conditional and non-binding buyout proposal from private equity firm BGH Capital in a deal that values the billing solutions provider at A$1.3 billion ($1 billion), sending its shares to a record high. BGH’s offer of A$6.50 in cash per share represents a premium of 25.5% to the company’s last closing… Continue reading Australia’s Hansen Technologies gets $1b buyout offer from BGH Capital
China Youran Dairy seeks to raise $800m in Hong Kong IPO …
China Youran Dairy Group is aiming to raise up to $800 million in its Hong Kong IPO by pricing its shares at between $HK6.98 to $HK8.66 each, according to regulatory filings on Monday. The dairy company, backed by private equity group PAG, will finalise the share price on Thursday before listing on the Hong Kong… Continue reading China Youran Dairy seeks to raise $800m in Hong Kong IPO …
Cautious investor to optimist president: How Ming Maa sped up Grab’s journey to the top
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China Oceanwide’s IDG sale to Blackstone may net as much as $600m
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 China Oceanwide’s IDG sale to Blackstone may net as much as $600m
India tells Twitter to comply with IT rules or face ‘unintended consequences’ …
India has told Twitter Inc it has one last chance to comply with new IT rules, or face “unintended consequences” according to a copy of an official letter seen by Reuters. The new rules – which were announced in February and which became effective at the end of last month – are aimed at regulating content on… Continue reading India tells Twitter to comply with IT rules or face ‘unintended consequences’ …