In recent outbound deal activities, Vietnam-based Masan Group has agreed to sell German tungsten powder producer H.C. Starck Holding, while Singapore’s City Developments Limited has acquired the Hilton Paris Opéra hotel from Blackstone. Masan to sell H.C. Starck to Mitsubishi unit Vietnamese conglomerate Masan Group, through its subsidiary Masan High-Tech Materials, will divest German tungsten… Continue reading SEA Digest: Vietnam’s Masan to divest German asset; SG-based CDL buys Paris hotel
Author: Deal Street Asia Online News
IvyCap leads $4.8m funding in Celcius Logistics and other India deals
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Xiaomi becomes 8th largest EV upstart in China after rolling out SU7 sedanThe firm sold more than 7,000 units of its first model in April.
Chinese smartphone maker Xiaomi has become the country’s eighth-largest electric vehicle upstart after selling more than 7,000 units of its first model, the SU7 sedan, in April, according to industry data. Xiaomi‘s strong entry into China‘s crowded EV market is set to further upend the world’s largest auto market, where companies have been locked in a fierce price war amid weakening demand. Xiaomi is already a household name in China for its… Continue reading Xiaomi becomes 8th largest EV upstart in China after rolling out SU7 sedanThe firm sold more than 7,000 units of its first model in April.
TikTok creators go to court against impending sell-or-ban law in US
A group of TikTok creators said Tuesday they filed suit in U.S. federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban it, saying it has had “a profound effect on American life.” The TikTok users suing include a Texas Marine Corps veteran who sells his ranch products, a Tennessee woman selling… Continue reading TikTok creators go to court against impending sell-or-ban law in US
IFC likely to invest $25m in Pakistan’s tyre supplier Armstrong ZE
The International Finance Corporation (IFC), a member of the World Bank Group, is considering an investment of $25 million in Pakistan-based tyre importer and supplier Armstrong ZE to partially finance the setting up of its greenfield tyre manufacturing facility, according to a disclosure. Go to Source
India: Early-stage accelerator 9Unicorns rebrands, launches second fund
9Unicorns, an early-stage accelerator in India, has launched its second investment vehicle, following a rebranding exercise. The firm, now renamed as 100Unicorns, is targeting to raise $200 million, including a green-shoe option of $100 million. The launch of 100Unicorns Fund II highlights the firm’s commitment to nurture the next wave of 200 challenger startups emerging… Continue reading India: Early-stage accelerator 9Unicorns rebrands, launches second fund
ChrysCapital investing up to $100m in Indian eye care chain Centre for Sight
Indian homegrown private equity (PE) firm ChrysCapital has announced an investment of up to $100 million in New Delhi-headquartered Centre for Sight, signalling increased investor interest in single-speciality hospital chains in the country. The deal is a combination of primary and secondary transactions. The PE behemoth has picked up existing backer Mahindra Holdings’s entire stake… Continue reading ChrysCapital investing up to $100m in Indian eye care chain Centre for Sight
Sea Ltd dives into losses in Q1 2024 despite strong revenue growth
NYSE-listed Sea Ltd saw a 23% year-on-year (YoY) jump in revenue to $3.7 billion during the Jan-March quarter from $3 billion during the same period last year, according to the company’s quarterly financial report. Its total adjusted EBITDA for the quarter, however, fell 21% to $401 million from $507.2 million in Q1 2023, although it… Continue reading Sea Ltd dives into losses in Q1 2024 despite strong revenue growth
Tencent’s Q1 revenue growth beats estimates as ad sales, business services shineRevenue reached $22.04 billion for the three months ended March 31.
China’s Tencent Holdings posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations, as business services and advertising sales deliver strong revenue growth. The world’s largest video game company and operator of the WeChat messaging platform said revenue reached 159.5 billion yuan ($22.04 billion) for the three months ended March 31. That compared… Continue reading Tencent’s Q1 revenue growth beats estimates as ad sales, business services shineRevenue reached $22.04 billion for the three months ended March 31.
People Digest: True North exec steps down; Ex-WestBridge exec launches VC firm; MoneyHero appoints CFO
Indian private equity (PE) firm True North has reportedly lost a managing partner, while a former WestBridge Capital executive has floated a new venture capital (VC) firm. True North managing partner steps down Kapil Singhal, a managing partner at PE firm True North responsible for its private credit strategy, has stepped down, according to a… Continue reading People Digest: True North exec steps down; Ex-WestBridge exec launches VC firm; MoneyHero appoints CFO