Author: Deal Street Asia Online News

KKR-led consortium completes Spark Infrastructure acquisition for $3.75b

A KKR-led consortium has completed a 100% acquisition of Australia’s Spark Infrastructure in an all-cash transaction for approximately A$5.2 billion ($3.75 billion). Canadian pension funds Ontario Teachers’ Pension Plan Board (Ontario Teachers’) and Public Sector Pension Investment Board (PSP Investments) joined in the consortium. Earlier in July, Spark Infrastructure had rejected an A$4.91 billion offer… Continue reading KKR-led consortium completes Spark Infrastructure acquisition for $3.75b

Delivery Hero to scale down Foodpanda Germany, sell Foodpanda Japan

German food delivery group Delivery Hero said on Wednesday it would scale down its Foodpanda operations in Germany and sell the subsidiary’s Japan unit, citing increased competition and labour shortages. Delivery Hero said Foodpanda would exit Cologne, Duesseldorf, Frankfurt, Hamburg, Munich and Stuttgart, though it had only introduced the brand in Cologne, Duesseldorf and Stuttgart a month earlier as part of a broader expansion programme in Germany. “Facing a very different reality now… Continue reading Delivery Hero to scale down Foodpanda Germany, sell Foodpanda Japan

Unionbank to buy Citi’s Philippine consumer banking biz

Unionbank of the Philippines said on Thursday it will acquire the consumer banking business of Citigroup Inc in the Southeast Asian nation, as part of a bid to boost growth in its retail banking sector. Unionbank will pay cash for the net assets of the Citi Philippines’ consumer banking business plus a premium of 45.3 billion pesos, or about $908 million, Citigroup said in a separate… Continue reading Unionbank to buy Citi’s Philippine consumer banking biz

China’s Tencent to give $16.4b JD.com stake to shareholders as dividend

Chinese gaming and social media company Tencent will hand a $16.4 billion JD.com stake as a dividend to its shareholders, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings. Tencent said on Thursday it will distribute HK$127.69 billion ($16.37 billion) worth of its JD.com stake to shareholders, slashing its holding in China’s second-biggest e-commerce company to 2.3% from around 17% now and losing its… Continue reading China’s Tencent to give $16.4b JD.com stake to shareholders as dividend

Chinese regulators suspend cyber security deal with Alibaba Cloud

Chinese regulators on Wednesday suspended an information-sharing partnership with Alibaba Cloud Computing, a subsidiary of e-commerce conglomerate Alibaba Group, over accusations it failed to promptly report and address a cybersecurity vulnerability, according to state-backed media reports. Alibaba Cloud did not immediately report vulnerabilities in the popular, open-source logging framework Apache Log4j2 to China‘s telecommunications regulator, according to 21st Century Business Herald, citing a recent notice… Continue reading Chinese regulators suspend cyber security deal with Alibaba Cloud

Renault’s China JV with Brilliance heading into restructuring

Renault on Wednesday confirmed a report that its joint venture with Chinese carmaker Brilliance Auto Group had run out of cash and is heading for a restructuring. “In light of (the JV‘s) inability to meet its current financial obligations, the company’s board of directors has resolved to initiate a restructuring process,” a spokesperson said. A source in September told Reuters Renault was in… Continue reading Renault’s China JV with Brilliance heading into restructuring

Data Vantage: Haulio, SDAX, Udaan headline funding, fundraising updates

Singapore-headquartered container haulage platform Haulio has raised $5.75 million in Series A funding, according to its regulatory filings. The round was led by Orchid 3 Investments, a vehicle of Temasek-backed Heliconia Capital Management. Existing backers ComfortDelGro Ventures and PSA unboXed, the venture capital arm of port operator PSA International, also participated. Haulio also issued about… Continue reading Data Vantage: Haulio, SDAX, Udaan headline funding, fundraising updates

LPs to see actual returns after stellar year for SE Asian startup funding, IPOs …

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading LPs to see actual returns after stellar year for SE Asian startup funding, IPOs …

Strong demand from investors in Asia who are still under-allocated in real estate: Warburg’s Perlman

Jeffrey Perlman, Managing Director and Head of Southeast Asia and Asia-Pacific Real Estate, Warburg Pincus. Photo: DEALSTREETASIA Premium Investors in Asia have yet to fully capitalise on opportunities in real estate, and are behind the strong demand for private equity real estate Investments, said Jeffrey Perlman, managing director and head of Asia-Pacific Real Estate at… Continue reading Strong demand from investors in Asia who are still under-allocated in real estate: Warburg’s Perlman