Tata Steel, Vedanta eligible to bid for bankrupt Bhushan Steel, says NCLAT

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Neeraj Singal had moved NCLAT questioning Tata Steel’s eligibility to bid for the company under Section 29(A) of the Insolvency and Bankruptcy Code (IBC).

For Deutsche Bank, rich Asian millionaires drive strong growth opportunities

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Few businesses offers such eye-watering opportunities for global banks right now as catering to Asia’s swelling millionaire class.


MEP Infra to divest stakes in six projects to Cube Highways for $65m

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MEP, which started out as a toll management company, entered the construction business with the six projects.


Japan Digest: FTI leads $7.2m round in Modulus; Takeda backs Series A of Ambys

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Tokyo-based Fast Track Initiative has led a $7.2-million funding round into Modulus Discovery


HNA to sell Radisson to Chinese hospitality giant Jin Jiang

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The sale would add to the more than $17 billion in divestments that the company has made this year, a tally that includes stakes in Hilton Worldwide Holdings Inc. and NH Hotel Group SA.


WeWork snags another $1b from SoftBank as costs spiral

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WeWork reported that it lost $933 million on $886 million in sales last year. In the first half of this year, it lost $723 million on $764 million in sales. The company expects at least $1.8 billion in sales over the next 12 months. 


Tesla board seeks more information on Musk’s go-private plan

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The board expects to make a decision on whether to launch a formal review of Musk’s proposal in the coming days and is speaking to investment bankers about hiring financial advisers to assist it in its review in such scenario.


India: S Chand buys 51% stake in Chetana Publications for $8.5m

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This investment is in line with the inorganic growth strategy of S Chand to expand its share in the K-12 content publishing market.


Vietnam to limit new foreign bank licenses to boost local acquisitions

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Vietnam has so far licensed around 10 wholly foreign-owned banks, such as HSBC, StanChart, Hong Leong Vietnam, CIMB Vietnam


India: IFCI seeks buyer for its 4% stake in Clearing Corp

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The move is part of the lender’s efforts to clean up its balance sheet, which recorded gross NPA of 40.9% as of 31 March 2018.