Tata Group is in talks to buy Wistron Corp’s only manufacturing facility in India for up to 50 billion rupees ($612.6 million), the Economic Times business daily reported Wednesday, citing people familiar with the discussions. If it fails to strike a deal to buy the facility in the southern Indian state of Karnataka, Tata could consider a joint venture with… Continue reading India’s Tata Group reportedly in talks to buy Apple vendor Wistron’s India facility
Author: Deal Street Asia Online News
Singapore’s Temasek holds internal review of $275m FTX-related loss
Singapore’s Deputy Prime Minister Lawrence Wong said on Wednesday that Temasek Holdings has initiated an internal review of its investment in the now-bankrupt FTX crypto exchange, which resulted in a write-down of $275 million. Wong, who is also finance minister, said the loss did not mean state investor Temasek’s governance system was not working and… Continue reading Singapore’s Temasek holds internal review of $275m FTX-related loss
Chinese developer Shimao plans private placement as Beijing lifts equity sales ban
Chinese property developer Shimao Group Holdings Ltd plans a private placement of shares, becoming the second player in the cash-squeezed sector to tap equity fundraising options just a day after Beijing lifted a ban on such deals. Shares of Shimao, a mid-sized developer, surged in Shanghai by their daily upward limit, or 9.9%, on Wednesday… Continue reading Chinese developer Shimao plans private placement as Beijing lifts equity sales ban
Asia Partners targets $600m for second growth fund: ReportThe firm has reportedly hit the first close of the vehicle at around $350 million.
Southeast Asia’s technology-focused private equity firm Asia Partners is said to be seeking $600 million for its second fund, Mergermarket reported. The firm has reportedly hit the first close of the vehicle at around $350 million. DealStreetAsia has reached out to Asia Partners for comment. The firm filed to raise Asia Partners II in April,… Continue reading Asia Partners targets $600m for second growth fund: ReportThe firm has reportedly hit the first close of the vehicle at around $350 million.
DEG to extend $14m loan to China’s microfinance company Simple Credit
DEG, the investment arm of German state-owned development bank KFW, has committed to extend a loan of CNH 100 million ($14 million) to China’s microfinance company Simple Credit Micro-Lending Co., Ltd. (Simple Credit), according to a disclosure. Established in 2015 in Chongqing, Simple Credit is a microfinance company holding a nationwide internet lending licence in… Continue reading DEG to extend $14m loan to China’s microfinance company Simple Credit
India’s Gland Pharma to buy France’s Cenexi for $124m
Indian generic injectables maker Gland Pharma Ltd said on Tuesday it will buy privately held French pharmaceutical firm Cenexi for 120 million euros ($124.3 million) as it looks to expand its presence in European markets. Carved out from Roche Holding in 2004, Cenexi is a contract development and manufacturing company that makes sterile and injectable… Continue reading India’s Gland Pharma to buy France’s Cenexi for $124m
Sky Mavis calls for rethinking of “play-to-earn” in the next chapter of blockchain gamesSky Mavis has shifted its focus towards gameplay.
Vietnam-based Sky Mavis’s non-fungible token (NFT) game Axie Infinity became a sensation last year as millions of users flocked to it, seeking to earn money by acquiring and trading its NFTs. For some, the game appeared so lucrative that they quit their jobs to focus on Axie. However, the game developer was hit by the… Continue reading Sky Mavis calls for rethinking of “play-to-earn” in the next chapter of blockchain gamesSky Mavis has shifted its focus towards gameplay.
SE Asia’s Iterative closes $55m Fund 2 to double down on seed-stage founders
Southeast Asia’s Iterative has closed $55 million for its second fund to double down on seed-stage founders, it announced on Wednesday. Iterative’s Fund II is led by Cendana, K5 Global, Village Global, and Goodwater Capital in the US. It also received strong participation from Silicon Valley founders and executives including Dropbox’s Arash Ferdowsi, Bukalapak’s Achmad… Continue reading SE Asia’s Iterative closes $55m Fund 2 to double down on seed-stage founders
Philippines proposes to set up $4.9b sovereign wealth fund
Philippine House Speaker Martin Romualdez, the cousin of President Ferdinand Marcos Jr., has filed a bill seeking to establish a 275-billion peso ($4.9 billion) sovereign wealth fund to support the administration’s economic agenda. House Bill No. 6398, filed on Monday and co-authored by the president’s son Ferdinand Alexander, is aimed at setting up what would… Continue reading Philippines proposes to set up $4.9b sovereign wealth fund
Indian PE firm Zephyr Peacock ready to write smaller cheques, bullish on digital
Zephyr Peacock, the Indian investment arm of New York-based private equity (PE) firm Zephyr Management, is betting big on the burgeoning digital economy as it looks to raise its fourth fund next year. “As much as 40% of our third fund has been deployed. We will be able to exhaust it by next year and… Continue reading Indian PE firm Zephyr Peacock ready to write smaller cheques, bullish on digital