Author: Deal Street Asia Online News

Actis, I Squared Capital, Keppel eye Beijing Capital-owned waste firm ECO

Global infrastructure investors Actis and I Squared Capital are among companies considering bids for Beijing Capital Group’s wholly-owned Singapore waste management company ECO, according to two sources with direct knowledge of the matter. Others interested companies include Singapore’s Keppel, the sources said, adding that the parties are working with financial advisers to weigh making binding bids for ECO Special Waste Management. China’s Beijing Capital had hired Citigroup last year to sell the company in a… Continue reading Actis, I Squared Capital, Keppel eye Beijing Capital-owned waste firm ECO

Indians get hooked onto quick commerce, squeezing small retailers

In a middle-class suburb of Mumbai, workers at SoftBank-backed Swiggy’s grocery warehouse race against time to deliver orders within 10 minutes. Their speed is tracked by the seconds on a screen that flashes red warnings for slowness. Outside in sweltering heat, Swiggy’s bikers, sporting the firm’s trademark bright orange T-shirt, frantically collect packed grocery orders… Continue reading Indians get hooked onto quick commerce, squeezing small retailers

China Deal Review: Startup funding slumps 32% to a record low in May

Venture capital funding for privately-held firms across mainland China, Hong Kong, Macau, and Taiwan plunged 32% to $2.5 billion in May over the previous month, as China’s uneven economic growth and ongoing geopolitical tensions weighed on investor sentiment. This was the lowest amount raised by Chinese startups since DealStreetAsia started tracking deals of all sizes… Continue reading China Deal Review: Startup funding slumps 32% to a record low in May

Northstar in talks with Chinese SOE to sell auto parts business of SG-based Innovalues

Innovalues’ largest manufacturing facility is in Thailand’s historic city Ayutthaya, located North of Bangkok Southeast Asian private equity major The Northstar Group is understood to be in discussions to sell its stake in Singapore-based precision parts manufacturer Innovalues to China Finecast International Corporation China (CFIC), a Beijing-based state-owned enterprise, according to people familiar with the… Continue reading Northstar in talks with Chinese SOE to sell auto parts business of SG-based Innovalues

SPAC Digest: Chenghe Acquisition II raises $75m in IPO, Rising Dragon eyes $50m

Asia-focused blank cheque company Chenghe Acquisition II has raised $75 million in its US IPO, while China’s Rising Dragon Acquisition has filed to raise $50 million in its IPO. Chenghe Acquisition II raises $75m Chenghe Acquisition II, a blank cheque company focused on Asian businesses, raised $75 million in its initial public offering (IPO) in… Continue reading SPAC Digest: Chenghe Acquisition II raises $75m in IPO, Rising Dragon eyes $50m

India: Candi Solar raises $38m to fund 200 MW solar projects and expand team

Candi Solar, a solar power solution provider for commercial and industrial clients, has raised $38 million in an equity funding round led by Norfund, Kyuden International, and STOA, the firm said in a statement. The new funding is aimed at facilitating the financing of an additional 200 MW of business solar projects and supporting strategic… Continue reading India: Candi Solar raises $38m to fund 200 MW solar projects and expand team

BlackRock appoints Mohammad Al Fahim as MD for UAE, Bahrain & Oman

BlackRock on Monday said it hired Mohammad Al Fahim as managing director and head of the United Arab Emirates to look after its business in the country, together with Oman and Bahrain. “Mr. Al Fahim will lead all aspects of BlackRock’s client business to help deliver a diversified platform of investment solutions, including the firm’s… Continue reading BlackRock appoints Mohammad Al Fahim as MD for UAE, Bahrain & Oman