Embattled property developer China Evergrande Group aims to win creditors’ approval for its debt restructuring proposals by as early as the end of February, the company’s lawyers said on Monday. Once China’s top-selling developer, Evergrande is now at the centre of the country’s property crisis. Its $22.7 billion of offshore debt, including loans and private… Continue reading Evergrande aims to win approval for restructuring proposals by March
Author: Deal Street Asia Online News
Cargill-backed Proterra Asia closes Food Fund 3 at over $200mFood Fund 3 was launched in May 2019 but closed only on Oct 26, 2022.
Proterra Investment Partners’s Asian subsidiary, Proterra Asia, has closed its third food fund at over $200 million, according to a statement. The food and agribusiness-focused private equity firm drew in limited partners (LPs) from institutional investors, international and regional foundations, and family offices from Europe and Asia. The Development Bank of Japan (DBJ) also joined… Continue reading Cargill-backed Proterra Asia closes Food Fund 3 at over $200mFood Fund 3 was launched in May 2019 but closed only on Oct 26, 2022.
PAG, Platinum among bidders for Advent’s stake in Singapore tuition chain
Private equity firms PAG and Platinum Equity are among bidders vying for Advent International’s stake in Singaporean tuition chain The Learning Lab that could fetch up to $500 million, two sources with knowledge of the matter told Reuters. The sale process, which is being run by Rothschild & Co, has entered a second round of… Continue reading PAG, Platinum among bidders for Advent’s stake in Singapore tuition chain
India Digest: Simplilearn acquires Fullstack; PhonePe to buy ZestMoney
Blackstone-backed Simplilearn has acquired US-based Fullstack Academy, while Flipkart-owned PhonePe is understood to be acquiring ZestMoney. Simplilearn acquires US edtech firm Fullstack Simplilearn, a higher edtech platform backed by private equity firm Blackstone, has acquired US-based bootcamp education company Fullstack Academy. The acquisition will help the Indian startup strengthen its presence in North America at… Continue reading India Digest: Simplilearn acquires Fullstack; PhonePe to buy ZestMoney
Australia’s BNPL sector may soon come under consumer credit regulation
When Melbourne barista Melinda Elliott had to cut back on casual work shifts this year, she asked her buy-now, pay-later (BNPL) provider, Afterpay, to lower her credit limit. She did not want debt she could not afford to repay. The Australian company, owned by Twitter founder Jack Dorsey’s Block Inc, cut her limit to A$2,000… Continue reading Australia’s BNPL sector may soon come under consumer credit regulation
Singapore-based EDBI CEO Chu Swee Yeok leaving to set up new fundChu will be replaced by EDBI’s managing partner, Paul Ng.
Singapore-based EDBI’s chief executive officer and president, Chu Swee Yeok, is leaving the venture capital firm to start a new fund, according to a statement on Monday. Chu will be replaced by EDBI’s managing partner, Paul Ng, a longtime senior executive who has led investments in information and communications technology (ICT) globally and held leadership… Continue reading Singapore-based EDBI CEO Chu Swee Yeok leaving to set up new fundChu will be replaced by EDBI’s managing partner, Paul Ng.
India’s Table Space said to have raised $300m from global PE firm Hill House
Table Space, a flexible office operator in India, has raised around $300 million in fresh funding as it looks to expand its operations across the country, per a report by The Economic Times. The corpus will be pumped in by global private equity (PE) firm Hillhouse Capital in two tranches, the report stated, quoting sources.… Continue reading India’s Table Space said to have raised $300m from global PE firm Hill House
Gojek, ComfortDelGoro to share a ride in Singapore
Indonesian superapp operator Gojek has teamed up with Singapore’s largest taxi operator, ComfortDelGoro, to explore ways to address challenges affecting the point-to-point (P2P) transport industry in the city-state, including driver shortage, according to a statement on Monday. As part of the collaboration, Gojek users will be able to book ComfortDelGro taxis via the Gojek app.… Continue reading Gojek, ComfortDelGoro to share a ride in Singapore
IFC weighs $55m debt financing for TPG-backed Fourth Partner Energy
International Finance Corporation (IFC), a member of the World Bank Group, is considering a $55-million debt financing for Indian solar panel provider Fourth Partner Energy, according to a disclosure. The proposed loan will help finance the onsite and offsite solar and wind-power plants being built by Fourth Partner across India at an estimated cost of… Continue reading IFC weighs $55m debt financing for TPG-backed Fourth Partner Energy
Indonesia extends loan relief for some pandemic-hit sectors
Indonesia has extended loan forbearance for businesses such as accommodation as well as the textile and footwear industries that are yet to recover from the impact of the COVID-19 pandemic, the country’s financial regulator said on Monday. The Financial Services Authority (OJK) has since March 2020 provided incentives to banks to restructure loans for debtors… Continue reading Indonesia extends loan relief for some pandemic-hit sectors