Hoan My Corp buys 70% stake in Dong Nai hospital

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Vietnamese healthcare provider Hoan My Medical Corporation has bought 70% stake in the Dong Nai International Hospital. The remaining 30% would remain with the existing shareholders, said a representative of the Hoan My Corp,  which is owned by the Singapore based Chandler Group. The size of the deal, that gives Hoan My corp… Read more »

iCar Asia acquires One2Car for $14.4m

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Malaysia-based automotive marketplace iCar Asia has announced that it will be acquiring Thailand’s leading vehicle classified site, One2Car, for $14.4 million. The deal includes $11.6 million of cash component while the rest ($2.8 million) will be paid by iCar Asia equity. The deal will add 1.2 million visitors (per month) and about… Read more »


Acquire BPO buys out Shore Solutions

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Australia-based Acquire BPO has acquired Shore Solutions, one of the fast-growing business process outsourcing companies (BPO) in the Philippines. The size of the deal, which involves a complete buyout of Shore Solutions, was not disclosed. This a second investment by the contact centre operator, in a Philippine firm, in less than… Read more »


Petronas acquires Phillips 66 stake in MRC

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Malaysia’s national oil company Petroliam Nasional Bhd (Petronas) has announced that it is acquiring the remaining stake in the Malaysian Refining Company Sdn Bhd (MRC) for a cash consideration of $635 million. Petronas said it reached an agreement with Philips 66 Asia Ltd, a subsidiary of New York Stock Exchange-listed… Read more »


KKR, CITIC offer $1.5b for United Envirotech

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US headquartered private equity firm KKR & Co LP and Chinese state-backed conglomerate CITIC Ltd have offered to buyout Singapore water treatment company United Envirotech Ltd (UEL). The offer values United Envirotech, which has been trading on the Singapore Stocks Exchange since April 2004 at S$1.9bn ($1.52bn). KKR is already… Read more »


Banpu enters fourth power plant JV in China

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Banpu Power International Limited, a wholly-owned subsidiary of Banpu PLC, has signed an equity joint venture agreement to study and co-develop Shanxi Lu Guang power project, a new 1,200 megawatt coal-fired power project in the Shanxi province, China. This is Banpu Power’s fourth such project in China. Under the agreement, Banpu… Read more »


Mondelez acquires 80% in Kinh Do for $370m

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US-based confectionery conglomerate Mondelez International Corp is planning to acquire a majority stake (80%)  in the snack unit of Kinh Do Corporation – the Binh Duong Kinh Do Corp-  through an investment of $370 million. Subject to Kinh Do shareholders approval, Mondelez will have an opportunity to purchase the remain 20% stake… Read more »


Northern Trust to invest $2.2b in Asia-Pacific ops, opens PH hub

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US-based independent banking organisation Northern Trust launched its global operations center in the Philippines on Tuesday. The center will support processing and back-office functions for the company’s clients worldwide. The center is third such expansion site in Asia-Pacific this year, for the company, which has allocated $2.2 billion budget to scaling up… Read more »


GEM invests $80m in Hoang Anh Gia Lai Group

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The US-based Global Emerging Markets Fund (GEM) will be investing VND 1700 billion ($80 million) in Hoang Anh Gia Lai JSC (HAGL). According to the terms of the deal, GEM will acquire 10% stake in HAGL mainly through the acquisition of shares from shareholders and existing investors. This transaction is… Read more »


PE firm Abraaj Group buys Wine Connection

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Private equity firm Abraaj Group has acquired Southeast Asia’s wine themed food and beverage (F&B) chain Wine Connection for an undisclosed amount, marking its fourth acquisition in the region, the company said. The Abraaj Group, that operates in growth markets of Asia, Middle East, North Africa, Turkey, Sub-Saharan Africa and… Read more »