International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has proposed to extend debt investment worth up to $25 million to Greenlam, one of the largest laminate manufacturers in India. Greenlam plans to use the proceeds to part-finance greenfield manufacturing facilities for high-pressure laminates, and particleboard, an engineered wood product… Continue reading IFC mulls extending $25m debt to Indian laminate maker Greenlam
Category: Tech News
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Temasek’s president, CFO step down in management reshuffle
Singapore state investor Temasek Holdings’ chief financial officer Leong Wai Leng and president Tan Chong Lee are stepping down from their respective roles, Bloomberg reported on Wednesday. General counsel Pek Siok Lan will also be leaving the firm. CFO Leong, who is departing after a 16-year stint at the company, will be replaced by deputy… Continue reading Temasek’s president, CFO step down in management reshuffle
Singapore’s GIC joins consortium to acquire EU-based Unither Pharma
Singapore sovereign wealth fund GIC has joined a consortium to acquire Unither Pharmaceuticals (Unither), an EU-based pharmaceutical product manufacturer, from French PE firm Ardian, according to an announcement. The transaction sees the consortium comprising GIC and IK Partners (IK) acquiring the equity stake while Keensight Capital (Keensight) and Parquest are reinforcing their existing positions. Unither’s… Continue reading Singapore’s GIC joins consortium to acquire EU-based Unither Pharma
Hidden Hill Capital leads $300m funding in Geely-owned NEV brand Farizon Auto
Farizon Auto, a commercial new energy vehicle (NEV) brand owned by Chinese multinational automaker Geely, announced on Wednesday that it has raised over $300 million in a Series Pre-A round led by GLP’s private equity arm Hidden Hill Capital. Hangzhou-based Farizon Auto, which was launched in 2016 by Geely’s commercial vehicle subsidiary Zhejiang Geely New… Continue reading Hidden Hill Capital leads $300m funding in Geely-owned NEV brand Farizon Auto
Tesla unveils its Megafactory as battery production ramps up
Tesla has unveiled its Megafactory in California for the first time as part of a hiring effort as it ramps up battery production. Last year, Tesla broke ground on a new “Megafactory” to produce Megapack batteries in Lathrop, California. The goal is to have a new factory focused only on building the large battery pack for utility-scale… Continue reading Tesla unveils its Megafactory as battery production ramps up
WhatsApp-for-business tool WATI raises $23m led by Tiger GlobalIndia is WATI’s single-largest market, with a third of its customers based out of the c…
WATI (WhatsApp Team Inbox), a customer and sales engagement tool, has raised $23 million in a Series B round led by marquee venture capitalist Tiger Global, per an announcement. The round also saw the participation of existing investor Sequoia Capital India & Southeast Asia, besides new investors DST Global Partners, and the Canadian multinational e-commerce… Continue reading WhatsApp-for-business tool WATI raises $23m led by Tiger GlobalIndia is WATI’s single-largest market, with a third of its customers based out of the c…
Investcorp, Fung Capital set up $500m fund targeting China’s Greater Bay Area
Global alternative investment manager Investcorp and the private equity arm of Hong Kong’s Fung Investments —Fung Capital — have launched a $500 million fund to invest in companies in the Greater Bay Area (GBA), according to an announcement on Wednesday. The sector-agnostic fund will focus on investing in mid-cap companies and privately-negotiated equity or equity-linked… Continue reading Investcorp, Fung Capital set up $500m fund targeting China’s Greater Bay Area
ESR Australia, Partners Group sell Sydney building to UBS for $255m
Swiss private market investor Partners Group and the Australian unit of Warburg Pincus-backed ESR have sold 73 Miller Street, an office tower in North Sydney, to Zurich-based UBS Asset Management for A$400 million ($255 million). UBS is acquiring the asset on behalf of an undisclosed client, according to an announcement. In 2017, the Partners Group… Continue reading ESR Australia, Partners Group sell Sydney building to UBS for $255m
Hyundai and WeRide plan to fuel self-driving with hydrogen in China
While hydrogen is still relatively niched as a fuel for electric vehicles, a startup in China is jumping ahead to embrace it for autonomous driving scenarios. WeRide, one of the most funded robotaxi operators in China with investors including Renault-Nissan-Mitsubishi Alliance, said Tuesday it is joining hands with Hyundai to launch a “self-driving hydrogen-powered vehicle… Continue reading Hyundai and WeRide plan to fuel self-driving with hydrogen in China
OM System unveils the OM-5, its first camera without the Olympus name
OM System has launched its first camera that doesn’t carry the Olympus name, the $1,200 OM-5 — and it looks a lot like the Olympus OM-D E-M5 Mark III, other than a few tweaks. It has the same sensor and video specs, but wears a new weatherproof body and updated processor that delivers improved autofocus… Continue reading OM System unveils the OM-5, its first camera without the Olympus name