Norwegian energy giant Statkraft pulls out of $1.5b Nepal hydro power project

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Norwegian energy giant Statkraft AS has withdrawn its plan to build a hydropower project in Nepal, officials said on Wednesday, in a blow to the Himalayan nation’s efforts to woo foreign investment and lift its struggling economy. The company was to invest $1.5 billion in the Tamakoshi III plant to… Read more »

India: Piramal unit sells healthcare product to British MNC

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Piramal Enterprises Ltd on Wednesday said its Canadian subsidiary has sold a cartilage repair product to British multinational medical equipment maker Smith and Nephew Plc for an undisclosed amount. BST-CarGel, made by Piramal Healthcare (Canada) Ltd, is a first-line cartilage repair product used along with microfracture and other bone marrow… Read more »


Thai DCORP, China’s Yingli ink $19m solar panel JV

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Thailand-based media and renewable energy firm Demeter Corporation (DCORP) and China’s energy giant Hainan Yingli New Energy Resources Co has closed the deal to form a joint venture firm to manufacture solar panels in Thailand with an initial investment of 689 million baht (around $19 million). “This is our first… Read more »


Hinduja Group close to buying distressed Indian infra assets; taps Africa for new projects

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The Hinduja Group says it is close to buying distressed assets in power and road even as it focuses on Africa for new business opportunities. In an interview, group co-chairman Gopichand P. Hinduja said the group has hired investment bankers to find out operational and under construction infrastructure projects in… Read more »


China’s gaming billionaire picks 60% stake in US gay dating app Grindr for $93m

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One of China’s newly minted technology billionaires signed a deal to buy a controlling stake in Grindr, the world’s biggest gay social-networking app. Beijing Kunlun Tech Co., an Internet games company that helped introduce Angry Birds to China, offered $93 million in cash for 60 percent of New Grindr LLC,… Read more »


India Dealbook: Sixth Sense Ventures invests in JHS Svendgaard; Aarin Capital backs SavvyMob

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Sixth Sense Ventures has invested an undisclosed amount in oral care products maker JHS Svendgaard, while hotel bookings app SavvyMob has received funds from Aarin Capital, a venture capital firm founded by former Infosys director TV Mohandas Pai and Manipal Group scion Ranjan Pai, among others. Sixth Sense invests in oral… Read more »


VN Dealbook: Prudential ups investment in sovereign bonds; Vissan to sell 14% to strategic investors

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Vietnam has attracted further interest from international insurance firm Prudential in its government bonds after the company purchased the state’s first 20-year notes worth $142.2 million in 2015. Meanwhile, Vissan, a state-run food company, is planning to sell 14 per cent of its equity to strategic corporate investors when it conducts… Read more »


India: Dubai’s Abraaj Group to acquire a majority stake in CARE Hospitals

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Dubai-based private equity investor Abraaj Group has agreed to acquire a majority stake in Quality CARE India Ltd, which runs chain of CARE Hospitals in the country, from private equity firm Advent International, according to a statement. US-based Advent had bought the controlling 72% stake in Hyderabad-based CARE Hospitals for… Read more »


Philippines’ San Miguel in race to acquire SABmiller’s Grolsch and Peroni

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Philippine conglomerate San Miguel Corp said on Wednesday it is interested in acquiring SABMiller PLC‘s Grolsch and Peroni beer brands, its President Ramon Ang told Reuters. Anheuser Busch InBev SA, which agreed to buy SABMiller for $100 billion plus, has been seeking potential bidders for Grolsch and Peroni, sources close to… Read more »


India 2015: Mohandas Pai, Ratan Tata, Kunal Bahl among top angel investors

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2015 saw record breaking investment deals getting sealed in the Indian startups space led by angel investors. TV Mohandas Pai and Kunal Bahl emerged as the most prolific investors in startups in 2015, with 13 investments each