April 8, 2018 Chinese car rental company Ehi Car Services Ltd said on Friday the company would be taken private by a consortium led by its Chief Executive Officer Ray Ruiping Zhang in a deal valued at about $937.5 million. The offer of $13.50 in cash per American depositary share of Ehi represents a 15.4 percent premium to the company’s close on… Continue reading China’s Ehi Car Services to be taken private by CEO-led group in $937.5m deal
Author: Deal Street Asia Online News
China Digest: Smart trucks JV formed; BitKan, Ainemo raise funds
April 4, 2018 In multiple developments in China, three firms have teamed up to form a joint venture that will develop smart trucks while startups BitKan and Ainemo have raised millions of dollars in their latest funding rounds. GLP teams up with G7, NIO Capital for smart trucks JV Industrial logistics provider GLP has teamed… Continue reading China Digest: Smart trucks JV formed; BitKan, Ainemo raise funds
China’s Meituan Dianping to acquire Mobike in $3.7b deal
April 4, 2018 Meituan Dianping, China’s top on-demand services platform, said on Wednesday it has agreed to acquire bike-sharing firm Mobike. Both firms are backed by Chinese gaming and social media firm Tencent Holdings Ltd. Meituan did not disclose the value of the deal, though local media said it was roughly $3.7 billion. Mobike will… Continue reading China’s Meituan Dianping to acquire Mobike in $3.7b deal
Uber Middle-East rival Careem in early talks to raise $500m in fresh funding
March 28, 2018 Middle East ride-hailing app Careem is in early talks to raise as much as $500 million in new funds from investors, sources told Reuters. Careem, Uber’s rival in the region, is checking the appetite of potential investors and hopes to secure its targeted $500 million in a new funding series, three sources… Continue reading Uber Middle-East rival Careem in early talks to raise $500m in fresh funding
Vietnam: Singapore’s Insignia Ventures invests $600K in truck platform LOGIVAN
March 23, 2018 Singapore-based Insignia Ventures Partners, founded by former Sequoia Capital venture partner Yinglan Tan, has invested $600,000 in Vietnamese freight-with-trucker connecting platform LOGIVAN. Linh Pham, Founder of LOGIVAN confirmed the investment with DEALSTREETASIA in an interaction. She told the portal that the newly-raised capital will enable it to expand to Ho Chi Minh… Continue reading Vietnam: Singapore’s Insignia Ventures invests $600K in truck platform LOGIVAN
Matrix Partners co-leads $473m round in China’s electric car maker CHJ Automotive
March 23, 2018 Chinese electric car startup CHJ Automotive has pocketed Rmb3 billion ($473 million) in its Series B funding round led by Matrix Partners China and Shougang Fund’s new energy fund portfolio, according to Chinese media reports. CHJ Automotive, described by Western media as a Chinese rival to Tesla, said the funding round was… Continue reading Matrix Partners co-leads $473m round in China’s electric car maker CHJ Automotive
India: Eicher Motors shuts 6-year-old JV with US partner Polaris
March 12, 2018 Eicher Motors Ltd said on Monday that it is shutting down its joint venture with US-based Polaris Industries Inc. immediately, as sales failed to meet expectations after the initial success. The equal venture, Eicher Polaris Pvt. Ltd, was formed in 2012 to manufacture Multix, which the companies touted as India’s first personal… Continue reading India: Eicher Motors shuts 6-year-old JV with US partner Polaris
Malaysia’s online used car platform Carsome raises $19m in Series B
March 8, 2018 Carsome, an online used car platform headquartered in Malaysia, has raised $19 million in a Series B funding round led by Burda Principal Investments and joined by Gobi Partners. InnoVen Capital and Lumia Capital also joined the funding round. In a statement, the startup said it will use the funds to scale… Continue reading Malaysia’s online used car platform Carsome raises $19m in Series B
India: Temasek said to be in talks to invest in SoftBank-backed Ola
March 6, 2018 After speculations of Japanese investment giant SoftBank wanting to pump in more funds in Indian ride hailing major Ola, Singapore’s sovereign wealth fund Temasek is now reportedly in talks to invest in the Uber rival. According to a report in The Economic Times quoting sources, Temasek and other investors are looking to invest… Continue reading India: Temasek said to be in talks to invest in SoftBank-backed Ola
China Dealbook: Xingyuan Auto, BestSign, Interhouse.cn, Kaochong fundraise
March 6, 2018 Beijing Xingyuan Automotive Information Technology Co., an internet-based provider of services for the auto industry, has raised $79 million in a Series A round of funding led by Qiangwei Holdings, and Guoxing Fund. Other Chinese startups to raise fresh funding include BestSign, Interhouse.cn, and Kaochong, CMN reported. Xingyuan Auto secures $79m funding Beijing… Continue reading China Dealbook: Xingyuan Auto, BestSign, Interhouse.cn, Kaochong fundraise