Asia Digest: Konica Minolta to buy Ambry Genetics; POSCO to sell KB Financial shares

Employees of POSCO walk out of the company's headquarters in Seoul July 22, 2011. Photo: Reuters

Konica Minolta to buy Ambry Genetics, deal worth up to $1b

Japan’s Konica Minolta said on Thursday it was purchasing U.S.-based testing company Ambry Genetics in a deal valued at up to $1 billion.

In a transaction that will be partially funded by a Japanese state-backed fund, it said that $800 million would paid in cash upon closure of the deal while $200 million could be paid over two years depending on financial performance.

Konica Minolta will account for 60 percent of the investment, with the fund, the Innovation Network Corp of Japan, accounting for the remaining 40 percent.

Posco to sell shares in KB Financial in block dealworth up to $384m

South Korean steelmaker POSCO plans to sell a stake in KB Financial Group in a block deal worth up to 444 billion won ($383.9 million), IFR reported on Thursday, citing a term sheet.

POSCO has offered 7,727,030 KB Financial shares at a price range of 56,400 won to 57,400 won each, a discount of 1.2 percent to 2.9 percent to their Thursday closing price, reported IFR, a Thomson Reuters publication.

Also read:

AIA Group, Konica Minolta launch Singapore digital health accelerator

South Korea pension body NPS appoints 4 PE firms to manage $607m in funds

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.