Taiwan’s Foxconn on Monday announced a partnership with Thailand’s state-run energy group PTT PCL to make electric cars in the Southeast Asian country, adding to a string of such deals by the iPhone assembler as it makes forays into the car market. Foxconn, Apple’s main iPhone maker, has expanded its activities in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automakers… Continue reading Foxconn ties up with Thailand’s PTT to make electric vehicles
Author: Deal Street Asia Online News
Mingdutech nets over $47m and 16 more deal updates from Greater China
ResearchPremium Zhejiang Mingdu Zhikong Technology Co., Ltd, also known as Mingdutech, has gathered over 300 million yuan ($47 million) in a Series B round of financing, per a company statement on Monday. The current round was led by China Merchants Group’s subsidiary China Merchants Medical and Healthcare Industry Equity Fund. China-Singapore Suzhou Industrial Park Development… Continue reading Mingdutech nets over $47m and 16 more deal updates from Greater China
Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart
Paytm is planning an IPO worth around $3 billion, offering SoftBank its largest exit in India after Flipkart. “A window to sell at least one-third of the overall stake on offer in the IPO may be available on a pro-rata basis for the existing investors, including SoftBank. A total of 3-5% stake may be monetized… Continue reading Softbank may sell $1.5b stake in Paytm, marking its largest exit in India after Flipkart
Chinese investment firm V-Capital secures $235m for new RMB fund
M&A and private investment-focused V-Capital, which was incubated by Shenzhen-listed Huaxi Holding in 2015, on Monday announced that it has secured as much as 1.5 billion yuan ($235 million) for a new RMB-denominated fund. The firm did not specify if the fund had reached the final close. The fund attracted commitments from a slew… Continue reading Chinese investment firm V-Capital secures $235m for new RMB fund
Indian IT firm Wipro sells its stake in Ensono for $76.24m …
In a regulatory filing Wipro said, “As part of the recently announced acquisition of Ensono by KKR, Wipro has sold its entire stake in Ensono Holdings, LLC for a consideration of $76.24 million. Consequent to the sale, Wipro does not hold any stake in Ensono Holdings, LLC.” It was in March 2018, Wipro and Ensono,… Continue reading Indian IT firm Wipro sells its stake in Ensono for $76.24m …
Vietnam steel maker Hoa Phat buys Australian iron ore mine to secure own supplies
Vietnam’s steel maker Hoa Phat said on Monday it has acquired the Roper Valley iron ore mine project in Australia, marking the company’s first step to secure its own supplies in the world’s biggest iron ore producer. The project is estimated to have 320 million tonnes of reserves, with mining capacity at four million tonnes per year, Hoa Phat said in… Continue reading Vietnam steel maker Hoa Phat buys Australian iron ore mine to secure own supplies
China Digest: Feiliu Tech; Rokae in funding news
Feiliu Tech has raised over 200 million yuan ($30 million) in its Series A1 and A2 rounds. In a separate development, Shunwei-backed Rokae has garnered a similar amount in its Series C+ round of financing. Feiliu Tech raises over $30m AI-driven apparel supply chain platform Feiliu Tech has garnered over 200 million yuan ($30 million)… Continue reading China Digest: Feiliu Tech; Rokae in funding news
China’s Glory Ventures closes oversubscribed USD Fund II at $120m …
Glory Ventures, a cross-border venture capital (VC) firm that invests in China and Israel, announced on Monday that the firm has closed its second USD-denominated fund at $120 million to focus firepower on the next-generation IT industry. Glory Ventures, which now manages three RMB funds and two US dollar funds, said in a statement that… Continue reading China’s Glory Ventures closes oversubscribed USD Fund II at $120m …
Singapore wealth fund GIC set to open Sydney office next year
Singapore’s sovereign wealth fund GIC said it was planning to open a new office in Sydney next year to focus on investment opportunities in Australia. This will be the investor’s 11th office worldwide. GIC said its portfolio in Australia has witnessed steady growth and that it will continue to scout for opportunities across various sectors. “We… Continue reading Singapore wealth fund GIC set to open Sydney office next year
KKR-backed PropertyGuru to acquire REA Group units in Malaysia, Thailand
PropertyGuru Group, the Singapore-based online real estate major backed by private equity giants KKR and TPG Capital, on Monday announced that it has agreed to acquire the operating entities of ASX-listed REA Group in Malaysia and Thailand. The acquisition involves iProperty.com.my and Brickz.my in Malaysia and thinkofliving.com and Prakard.com in Thailand. The financial details of… Continue reading KKR-backed PropertyGuru to acquire REA Group units in Malaysia, Thailand