<article>Credit China Fintech has acquired 51 per cent of Havenport Asset Management and payments provider NETS has acquired two subsidiaries of OCBC.</article>

Credit China Fintech has acquired 51 per cent of Havenport Asset Management and payments provider NETS has acquired two subsidiaries of OCBC.
<h3 class="p1">Credit China Fintech acquires 51% of Havenport</h3>
Hong Kong-listed financial technology (fintech) services firm <a href="http://www.creditchina.hk/" target="_blank">Credit China FinTech</a> is acquiring 51 per cent of Singapore&#8217;s <a href="http://havenportasset.com/" target="_blank">Havenport Asset Management</a> for S$25.5 million ($18.1 million). 
According to a Business Times <a style="color: #000080;" href="http://www.businesstimes.com.sg/banking-finance/china-fintech-buys-51-of-local-asset-manager-havenport" target="_blank">report</a>, Havenport, which was incepted in 2010 and is owned and operated by former executives from the Singapore arm of US asset manager Legg Mason and its predecessor firm, Rothschild Asset Management (Singapore), will receive a capital injection from the Chinese firm.
Credit China lends to small and medium enterprises (SMEs) and individuals in China, including through online platforms. Credit China has an office in Singapore&#8217;s Raffles City which is meant to serve as a regional hub focusing on fintech.
<h3 class="p1">NETS acquires OCBC subsidiaries</h3>
Payment solutions provider <a href="http://www.dealstreetasia.com/tag/nets/" target="_blank">NETS</a> is acquiring two wholly-owned subsidiaries of <a href="http://dealstreetasia.com/tag/ocbc" target="_blank">Oversea-Chinese Banking Corp (OCBC)</a>, Banking Computer Services (BCS) and BCS Information Systems (BCSIS), for S$38 million ($27 million).
The acquisition will allow it to facilitate wider adoption and utilisation of electronic payments in Singapore. The deal is expected to be completed in Q2 2017. BCS and BCSIS will become wholly-owned subsidiaries of NETS but will continue to operate as independent entities.
BCS manages and operates the clearing and payment infrastructure for the Singapore Clearing House Association. BCSIS designs and develops clearing and payment technology solutions for the financial services.
 Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/oxley-cyprus_ascendas-india-trust_imperim-crown-70064/">Singapore: Oxley JV, Ascendas India Trust &amp; Imperium Crown in realty deals</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/singapore-fund-gic-led-first-quarter-sovereign-investor-deals-70060/">Singapore’s GIC led first quarter sovereign investor deals</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/percipient-70067/">Singapore data startup Percipient closes $712k seed round</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/migme-may-sell-business-considering-to-migrate-to-overseas-exchange-70043/">Migme may sell business as it looks for recapitalisation, relisting in new exchange</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/chinas-sdic-inks-47m-equity-investment-in-maxwell-technologies-69998/">China’s SDIC Fund inks $47m equity investment in Maxwell Technologies</a>

Credit China Fintech have acquired a stake in Havenport while NETS has acquired OCBC subsidiaries.

Singapore: Credit China Fintech picks Havenport stake; NETS buys OCBC arms

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Singapore: Credit China Fintech picks Havenport stake; NETS buys OCBC arms

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief