Seoul-based entertainment agency Wellmade StartM acquired DreamT Entertainment for KRW1.1 billion (USD1.04 million), following a growing trend of mergers and acquisition in the entertainment industry.
Asia/Pacific
Report says oil and gas in emerging markets new target by private equity
A recent report by Ernst & Young and Mergermarket projected increase in private equity activity in the oil and gas sectors, especially in emerging markets.
Rocket Internet-backed Zalora and The Iconic nabs USD112 million in funding
German startup accelerator Rocket Internet raised USD112 million in new funding for online fashion retailers Zalora and The Iconic, making it the biggest single investment made for an e-commerce company in the Asian Pacific region.
China's Sinohydro to invest in infrastructure projects in Laos, Shandong province
China's biggest hydroelectric dam contractor Sinohydro Group Ltd. will be investing up to USD39.2 million in an hydroelectric project in Laos. The said company will also be investing USD724 million in a construction project in Shandong province.
Tata Cleantech Capital may finance up to INR 25 billion of clean energy projects in India
Joint venture company Tata Cleantech Capital Ltd said in a Bloomberg interview that it could finance up to USD 401 million in Indian renewable and energy efficient projects.
Latest News
Cool Japan Fund is looking to invest in TV channels and retail properties in the US and Southeast Asia to promote the country's culture. Cool Japan is backed by the government as well as Japanese companies and is led by a former Carlyle Group executive.
Philippine mall and banking conglomerate SM Investments Corp (SMIC) has purchased five business process outsourcing (BPO) buildings in Bonifacio Global City, Taguig for an undisclosed amount.
Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).
India's Foreign Investment Promotion Board has given the green light to Hennes & Mauritz's (H&M) INR7.2 billion (USD115 million) investment. The Swedish retail-clothing company looks to open 50 stores in India.
Former Japanese Ministry of Finance official Eisuke Sakakibara said the yen may weaken further as the government pension fund will follow the proposal to invest more of its holdings overseas.
Children's Place, the largest children's apparel retailer in the US, is in talks with Arvind Brands about a possible India entry next year. Children's Place is looking to expand its market outside North America.
Indonesia's largest taxi company Blue Bird Group reportedly postponed its initial public offering this year after failing to get an approval from the Financial Services Authority of Indonesia.
US movie company AMC Entertainment Holdings Inc said it will seek to raise USD 368 million in its initial public offering. AMC is owned by the Dalian Wanda Group controlled led by Wang Jianlin, the richest man in China.
German industrial conglomerate ThyssenKrupp AG reportedly plans to put up for sale its 51.5 million new shares in a capital increase. The deal could bring in EUR907 million (USD1.23 billion) to the company.
