India: Cox Automotive buys stake in Mahindra First Choice Wheels; HDFC, PE firm Phi Advisors get exits

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US-based digital marketing company Cox Automotive has acquired a strategic stake in Mahindra First Choice Wheels, the used-car retailing unit of Mahindra and Mahindra Ltd (M&M), the company said in a statement on Tuesday. The transaction, through a secondary sale, saw one of Mahindra First Choice’s early investors, HDFC, selling… Read more »

Thai Optical Group plans Asean expansion via JVs with local companies

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Thai Optical Group (TOG), one of the top producers and distributors of plastic optical lens, are targeting a one-third market share of Asean’s optical lens market over the next five year. For this, the company is planning to form joint venture firms, which will bolster its presence in Singapore, Vietnam,… Read more »


China’s HNA Group to buy 23.7% in Azul Brazilian Airlines for $450m

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China’s HNA Group on Tuesday said it would buy a 23.7 percent stake in Azul Brazilian Airlines for $450 million in its first foray into Latin America. HNA Group will become the largest shareholder in Azul, Brazil’s third largest airline, and aims to benefit from substantial passenger traffic between China and… Read more »


India: Online & tele-shopping platform Naaptol raises $52m from Japan’s Mitsui

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Naaptol.com, an online and tele-shopping platform run by Naaptol Online Shopping Pvt Ltd, has raised Rs 343 crore ($51.8 million) from Japanese conglomerate Mitsui & Co, the company said in a statement. Post this acquisition, Mitsui holds 20 per cent stake in Naaptol. This is the second fundraising by the… Read more »


Ethics probe not to delay Freeport Indonesia divestment

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A parliamentary ethics probe into a meeting between the speaker of Indonesia’s house of representatives and officials from mining giant Freeport McMoRan should not delay the company’s divestment plans for its Indonesian unit, a mining ministry official said on Tuesday. Freeport Indonesia must sell the Indonesian government a greater share… Read more »


US decision on Thai Union’s acquisition of Bumble Bee Seafoods on Dec 18

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Thai Union Group (TU), the world’s largest canned tuna producer, said on Tuesday it expects U.S. authorities to rule on December 18 on whether its proposed acquisition of rival Bumble Bee Seafoods will be approved. If the Bumble Bee deal goes through, TU will divest its holding in its Chicken… Read more »


India: SunEdison to sell 400 MW of solar power capacity for $350m

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SunEdison Inc plans to sell solar power capacity worth about 400 megawatts in India for roughly $350 million, as the U.S.-based solar company looks to shed assets to boost balance sheet, said two sources with direct knowledge of the matter. SunEdison operates around 450 MW worth of solar plants in… Read more »


Myanmar Dealbook: Puma Energy’s $100m fuel storage facility; Ball Corp to start production at Thilawa SEZ

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Activities at Thilawa Port and Thilawa Special Economic Zone are on full swing with Puma Energy looking at operating a fuel storage facility by early 2016. US-based Ball Corp, that is being set up at the Thilawa Special Economic Zone, is also expected to be seeing full production soon. Puma… Read more »


India: Optiemus, Taiwan’s Wistron to invest $200m in the new telecom JV

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Telecom technology provider Optiemus Infracom Ltd has entered into a joint venture (JV) agreement with Wistron Corporation, a Taiwan-based original design manufacturer (ODM), to set up manufacturing facilities for telecom products in India. Both the companies will together invest about $200 million in the JV over the next five years… Read more »


SGX-listed SIA Engineering to net $132m gains on stake divestment in Rolls Royce JVs

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Singapore Exchange Mainboard-listed SIA Engineering Co. (SIAEC) has announced that it will divest 10 per cent stake in Hong Kong Aero Engine Services Ltd (HAESL) in favour of joint venture partners, Rolls-Royce Overseas Holdings (RROH) and Hong Kong Aircraft Engineering Company Limited (HAECO). In a parallel divestment, involving Rolls Royce’ Singapore… Read more »