Author: Deal Street Asia Online News

Blackstone to buy majority stake in sandwich chain Jersey Mike’s SubsBlackstone is said to be nearing a deal for Jersey Mike’s at around $8 billion, i…

Blackstone will acquire a majority stake in Jersey Mike’s Subs, the sandwich chain said on Tuesday, marking the private equity firm’s latest investment in a franchise business. Reuters had reported on Monday, citing a person familiar with the matter, that Blackstone was nearing a deal for Jersey Mike’s at around $8 billion, including debt. The deal underscores private equity firms’ increasing interest in franchise operators. Last year, private equity firm Roark Capital agreed to buy Subway, Jersey Mike’s bigger rival, in a deal valued… Continue reading Blackstone to buy majority stake in sandwich chain Jersey Mike’s SubsBlackstone is said to be nearing a deal for Jersey Mike’s at around $8 billion, i…

Accel replicates Swiggy playbook, backs newbie SwishAn early backer of Swiggy, Accel is tapping the growing demand for quick food delivery.

After logging nearly 35X from the initial public offering of food delivery firm Swiggy this month, Accel seems to be replicating its strategy by betting early on Swish, a rapid food delivery platform, amid rising demand for ultra-fast food delivery in India. An early backer of Swiggy, Accel led Swish’s $2-million seed funding round to… Continue reading Accel replicates Swiggy playbook, backs newbie SwishAn early backer of Swiggy, Accel is tapping the growing demand for quick food delivery.

India’s Mamaearth parent sheds $415m in market value as Q2 loss fans concernsThe stock touched a record low of 242.35 rupees on Tuesday.

Indian skincare firm Mamaearth’s parent Honasa Consumer wiped off nearly 35 billion rupees ($414.7 million) in market valuation in two sessions, after a second-quarter loss fanned demand concerns for the beauty products retailer. The stock touched a record low of 242.35 rupees on Tuesday, and has fallen by about 30% over the last two days.… Continue reading India’s Mamaearth parent sheds $415m in market value as Q2 loss fans concernsThe stock touched a record low of 242.35 rupees on Tuesday.

Temasek’s 65 Equity Partners buys secondaries in Tencent-backed TuyaThe deal will provide a partial exit for US-based VC firm New Enterprise Associate…

Singapore’s 65 Equity Partners is purchasing around 13% secondhand stake in Tuya, a Chinese software company that’s worth around $969 million, from an existing shareholder. The deal, which was reported to be worth $100 million by The Straits Times, will provide a partial exit for New Enterprise Associates, a US venture capital firm which has… Continue reading Temasek’s 65 Equity Partners buys secondaries in Tencent-backed TuyaThe deal will provide a partial exit for US-based VC firm New Enterprise Associate…

Indian news agency ANI sues OpenAI for using its content in AI trainingOpenAI has also faced lawsuits in the US by the New York Times and the Chicago …

Indian news agency ANI has sued OpenAI in a New Delhi court, accusing the ChatGPT creator of using its published content without permission to help train the artificial intelligence chatbot to provide information to users. ANI is the latest news organisation globally to take OpenAI to court following lawsuits in the U.S. by newspapers including… Continue reading Indian news agency ANI sues OpenAI for using its content in AI trainingOpenAI has also faced lawsuits in the US by the New York Times and the Chicago …

Malaysia’s IPO market hits 18-year high in muted year for SE Asia The country recorded 46 listings which raised a total of $1.5b in 10M 2024.

Malaysia’s capital markets have outclassed other Southeast Asian exchanges with the highest number of new listings, along with the largest total fundraise and market capitalisation in initial public offerings, in the first 10 months of 2024. The country welcomed the highest number of public market debutantes in 18 years with 46 listings which raised a… Continue reading Malaysia’s IPO market hits 18-year high in muted year for SE Asia The country recorded 46 listings which raised a total of $1.5b in 10M 2024.

Keppel to spin off data centre JV to Keppel DC REIT for $1bThe JV owns the Keppel Data Centre Campus in Singapore.

Singapore’s Keppel will spin off its data centre joint venture (JV) to unit Keppel DC REIT for a total gross divestment price of S$1.38 billion ($1.03 billion), the two companies said on Tuesday. The JV between Keppel’s Connectivity Division and Cuscaden Peak Investments owns the Keppel Data Centre Campus in Singapore, comprising two operational centres—KDC… Continue reading Keppel to spin off data centre JV to Keppel DC REIT for $1bThe JV owns the Keppel Data Centre Campus in Singapore.