By M Sriram
Aujas has raised $11 million since 2008 from Chiratae Ventures, IvyCap Ventures and Rajasthan Venture Capital fund.
A deal would be only the second since the world’s biggest auto market relaxed foreign ownership rules last year.
FWD and Siam Commercial have entered into exclusive negotiations to finalize terms of a transaction. The business could be valued at around $3 billion.
The development comes on the heels of an earlier announcement by Vingroup to issue a private placement to raise around $1 billion.
Blackstone is likely to own around 80% of the SPV while the remaining 20 per cent will be owned by Salarpuria.
Bursa-listed Fintec Global has picked a 75 per cent stake in Zouk Club (KL) for $7.15 million cash.
The stake in the local bank, which is classed as BUKU I or the lowest category of banks in terms of core capital, was bought from Gozco Capital.
The investment proposal entails an A loan of up to $16 million and mobilization via non-agented parallel loans of up to $34 million.
The loan will support Jointown’s business expansion, including construction of up to five new product distribution centres and an upgrade at four warehouses.
Murphy Oil, which has been in Malaysia for two decades, would exit the country after the sale of its Sabah Oil and Sarawak Oil units in an all-cash deal.