Author: Deal Street Asia Online News

Canadian pension fund OTPP trims HK venture growth team, to focus on IndiaOTPP did not disclose the names of the team members who were let go.

Ontario Teachers’ Pension Plan (OTPP), Canada’s third largest pension fund, said it has laid off four dealmakers in Hong Kong on its Asia venture and growth equity investment team, which will now focus on India. OTPP did not disclose the names of the team members who were let go, but three people with knowledge of… Continue reading Canadian pension fund OTPP trims HK venture growth team, to focus on IndiaOTPP did not disclose the names of the team members who were let go.

Chinese chassis control system maker LeeKr secures almost $138m in Series C round

LeeKr Technology has pocketed 1 billion yuan ($137.8 million) in a Series C funding round to fuel its global expansion, according to a company release on Wednesday.  The round roped in a number of state-owned investors including Hangzhou Fuchunwan New City Development Fund, Hefei Construction Investment & Holding, Hefei Baohe Innovation Investment Private Fund Managemen,… Continue reading Chinese chassis control system maker LeeKr secures almost $138m in Series C round

Indonesian digital banking platform Superbank launches on Grab app

Indonesian digital banking player Superbank has officially launched its services on the Grab platform which will allow the super-app’s users and partners to open bank accounts and use it as a direct payment app for all Grab services without installing an additional app, the company said on Wednesday. Superbank offers a 6% annual interest on… Continue reading Indonesian digital banking platform Superbank launches on Grab app

Vodafone sells $1.8b stake in India’s Indus Towers, Airtel ramps up stake

Vodafone Group has sold a bigger-than-planned 18% stake in India’s Indus Towers for $1.82 billion on Wednesday, with local telecom operator Bharti Airtel picking up shares to increase its stake to nearly 50%. UK’s Vodafone, which owns a 21.5% stake in mobile-tower operator Indus, had initially planned to sell a 10% stake but strong investor demand promoted it to nearly double the sale size, a banking source aware of the… Continue reading Vodafone sells $1.8b stake in India’s Indus Towers, Airtel ramps up stake

Vodafone said to sell 10% stake in India’s Indus Towers for up to $1.1bVodafone plans to repay part of its $42.17 billion net debt using proceeds from…

Vodafone Group will sell about 10% stake in India’s Indus Towers for as much as $1.1 billion on Wednesday, per a term sheet seen by Reuters, as a part of the British firm’s efforts to repay debt. Last week, Reuters reported that Vodafone was mulling to sell its stake in mobile-tower operator Indus Towers, in… Continue reading Vodafone said to sell 10% stake in India’s Indus Towers for up to $1.1bVodafone plans to repay part of its $42.17 billion net debt using proceeds from…

KKR-led consortium to invest $1.3b in SG-based STT Global Data Centres

In a big-ticket investment in the digital infrastructure space in Southeast Asia, a consortium of private equity major KKR and Singtel will invest S$1.75 billion ($1.3 billion) in Singapore-headquartered ST Telemedia Global Data Centres (STT GDC), according to a company announcement on Tuesday. The consortium will invest $1.3 billion in redeemable preference shares (RPS) with… Continue reading KKR-led consortium to invest $1.3b in SG-based STT Global Data Centres

TA Associates looking to sell Hungarian price comparison firm Netrisk

TA Associates is preparing to put Netrisk Group, one of Hungary’s largest price comparison companies, up for sale, three people familiar with the matter told Reuters. The Boston-based buyout fund has hired Morgan Stanley to advise on a possible sale of the business, which specialises in comparing the prices of insurance products for consumers, two of the people said, speaking on condition of anonymity. Netrisk, with… Continue reading TA Associates looking to sell Hungarian price comparison firm Netrisk