Author: Deal Street Asia Online News

US chipmaker Magnachip, Chinese PE firm Wise Road call off $1.4b merger

Chinese private equity firm Wise Road Capital and U.S. chipmaker Magnachip Semiconductor Corp have terminated their $1.4 billion merger agreement struck in March, the companies said in a joint statement on Monday. The U.S. Treasury Department had said in August the deal posed “risks to national security”, while the Committee on Foreign Investment in the United States (CFIUS)… Continue reading US chipmaker Magnachip, Chinese PE firm Wise Road call off $1.4b merger

People Digest: B Capital appoints chief people officer; Google Cloud names SG, MY country head …

B Capital Group appoints Sandi Sadek as partner and chief people officer while Google Cloud appoints Cherie Ng as Singapore and Malaysia country director. Sandi Sadek is B Capital’s new partner and chief people officer B Capital Group has appointed Sandi Sadek as partner and chief people officer, according to a company statement. Sadek is… Continue reading People Digest: B Capital appoints chief people officer; Google Cloud names SG, MY country head …

SG Digest: Vickers Vantage Corp I signs LoI with Scilex; Keppel picks stake in Cleantech

Vickers Vantage Corp I has signed a letter of intent with Scilex Holding Company for a SPAC merger, while Keppel Corporation and others have acquired a majority stake in Cleantech Renewable Assets. Vickers Vantage Corp I signs LoI with Scilex for SPAC merger Vickers Vantage Corp I, the blank cheque firm of Vickers Venture Partners,… Continue reading SG Digest: Vickers Vantage Corp I signs LoI with Scilex; Keppel picks stake in Cleantech

MUFG Trust & Banking chief sees return of foreign firms to Tokyo market

Japan is ripe for a revival in stock listings by foreign firms, the trust banking arm of Mitsubishi UFJ Financial Group Inc said on Tuesday, with more than a dozen in the pipeline for Tokyo’s start-up market. Japan’s huge household wealth and the relatively high stock valuations on the Tokyo bourse’s Mothers market for start-ups… Continue reading MUFG Trust & Banking chief sees return of foreign firms to Tokyo market

S Korea’s POSCO to acquire Australia’s Senex Energy in $610m deal

Australian coal-seam gas producer Senex Energy Ltd agreed on Monday to be acquired by POSCO International Corp in an A$852.1 million ($610.02 million) deal, as the South Korean firm accelerates its expansion into global natural gas exploration and production. POSCO International, the trading arm of steel giant POSCO, received Senex‘s approval nASXgtX7Q for the deal after hiking its… Continue reading S Korea’s POSCO to acquire Australia’s Senex Energy in $610m deal

India: Grofers rebrands as Blinkit to reflect focus on quick commerce service

Online grocery delivery platform Grofers has rebranded itself as Blinkit to fend off competition in the fast-growing quick commerce space. Japan’s SoftBank-backed Grofers pivoted to the 10-minute grocery delivery service starting with Delhi, Gurugram, Mumbai, Bengaluru and Jaipur in August this year. The move to rebrand comes at a time when its close competitor, Swiggy,… Continue reading India: Grofers rebrands as Blinkit to reflect focus on quick commerce service

Chinese EV battery maker SVOLT scores $943m in its third big fundraising this year …

SVOLT Energy Technology, an electric vehicle (EV) battery maker and storage solutions provider, has raised 6 billion yuan ($942.8 million) in its third big-ticket fundraising of 2021. The latest round is yet another sign of the heightened interest in China’s rapidly growing EV infrastructure sector. The new investment, an extended Series B round, followed the… Continue reading Chinese EV battery maker SVOLT scores $943m in its third big fundraising this year …

China’s SenseTime postpones $767m Hong Kong IPO after US ban

Chinese artificial intelligence start-up SenseTime Group postponed its $767 million Hong Kong initial public offering (IPO) on Monday after being placed on a U.S. investment blacklist. SenseTime said it remained committed to completing the offering and would publish a supplemental prospectus and an updated listing timetable. Reuters first reported earlier on Monday the company’s plan to withdraw the… Continue reading China’s SenseTime postpones $767m Hong Kong IPO after US ban