Swedish private equity group EQT has completed the acquisition of Hong Kong-based Baring Private Equity Asia (BPEA) to create what the firm called a global leader in active ownership strategies. The deal was said to be worth €6.8 billion ($6.7 billion) when it was announced in March, making it the biggest takeover of a private… Continue reading EQT takes over HK-based Baring Private Equity Asia
Author: Deal Street Asia Online News
China Digest: imBee raises $5m; Tecon Biology’s arm bags $139m
Hong Kong-based chat management platform imBee has raised $5 million in a Series A round, while Tecon Pharmaceutical, a subsidiary of the Shenzhen-listed Tecon Biology, has secured $139 million to expand its manufacturing capabilities. imBee raises $5m in a Series A round Hong Kong-based chat management platform imBee has raised $5 million in a Series… Continue reading China Digest: imBee raises $5m; Tecon Biology’s arm bags $139m
Vietnam holds lot of promise but investors need to prioritise due diligence rigour
As investors spot big promise in opportunities in Southeast Asia’s fast-growing market Vietnam, they need to pay more attention to thorough due diligence in order to protect their investments, according to experts. “When an investor makes a decision too fast and bypasses the necessary vetting process, it can often lead to adverse consequences,” said Vy… Continue reading Vietnam holds lot of promise but investors need to prioritise due diligence rigour
Thailand’s latest unicorn LINE MAN Wongnai eyes IPO in next few years
Thailand’s freshly minted unicorn, LINE MAN Wongnai, has started working on an initial public offering (IPO) and is looking to list on the Stock Exchange of Thailand in the next few years, chief financial officer In Young Chung told DealStreetAsia in an exclusive interview. The Bangkok-based food delivery app has not filed for an IPO… Continue reading Thailand’s latest unicorn LINE MAN Wongnai eyes IPO in next few years
Creador-backed UNOAsia scores additional $3m in pre-Series A funding
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Asia Digest: Mubadala backs GlobalConnect; Advent, Wilbur-Ellis to merge unitsMubadala will buy a minority stake in GlobalConnect from EQT Infrastruct…
EQT Infrastructure has sold a minority stake in Sweden’s GlobalConnect to Mubadala, while Advent International and Wilbur-Ellis announced a merger between Caldic and Connell, their life sciences and specialty chemicals solutions businesses respectively. Mubadala buys minority stake in GlobalConnect EQT Infrastructure III and IV funds have signed an agreement to sell a minority stake in… Continue reading Asia Digest: Mubadala backs GlobalConnect; Advent, Wilbur-Ellis to merge unitsMubadala will buy a minority stake in GlobalConnect from EQT Infrastruct…
Credit Suisse approaches Middle Eastern sovereign wealth fund for capital
Credit Suisse Group AG has approached at least one Middle Eastern sovereign wealth fund for a capital injection, a source said, while some funds are looking at the scandal-hit Swiss bank’s businesses as potential investment opportunities. Abu Dhabi and Saudi Arabia were weighing up, through their sovereign wealth funds, whether to put money into Credit Suisse‘s investment bank and… Continue reading Credit Suisse approaches Middle Eastern sovereign wealth fund for capital
SoftBank to sell stake in THG to e-commerce firm’s CEO, Qatar wealth fund
THG said on Monday a trading arm of Japan’s SoftBank Group Corp has agreed to sell its holding in the British e-commerce group to THG Chief Executive Matthew Moulding and Qatar’s sovereign wealth fund. SB Northstar, the fourth largest shareholder in THG, will sell its 80.6 million shares, which represent about 6.4% of the British company’s capital. THG and SoftBank… Continue reading SoftBank to sell stake in THG to e-commerce firm’s CEO, Qatar wealth fund
India’s Reliance Jio selects Nokia as equipment supplier in 5G pushReliance snapped up airwaves worth $11b in the 5G spectrum auctions in Aug
Indian telecom service provider Reliance Jio has chosen Nokia as a major supplier, the Finnish telecom equipment maker said on Monday, as India’s biggest mobile carrier gears up to expand next-generation wireless services across the country. Nokia will supply Reliance Jio, which has more than 420 million customers, with 5G radio access network (RAN) equipment in a multi-year deal, the company said in a statement. “Nokia will supply equipment from its AirScale portfolio, including base… Continue reading India’s Reliance Jio selects Nokia as equipment supplier in 5G pushReliance snapped up airwaves worth $11b in the 5G spectrum auctions in Aug
Abu Dhabi’s ADQ offers to buy controlling stake in Abu Dhabi Aviation
Abu Dhabi sovereign wealth fund ADQ said on Monday it had made an offer to take a controlling stake in Abu Dhabi Aviation and merge the helicopter operator with ADQ stakes in Etihad Engineering, AMMROC, and GAL to create a “globally competitive aviation business” with about 9.4 billion dirhams ($2.56 billion) in assets. ADA said in a stock exchange filing it would hold a board meeting on Wednesday… Continue reading Abu Dhabi’s ADQ offers to buy controlling stake in Abu Dhabi Aviation