Start-ups in India have faced a sharp decline in venture capital investments during the first quarter of 2016. According to investors, this drawback appears to be a "new normal" since it shadows a series of funding turmoil in the past two years.
Deals
Haptik raises finance from Times Internet
Haptik has raised $11.2 million from Times Internet through a Series B funding round. Haptik will use the fund to develop its business portfolio, boost non-natural workforce abilities as well as improve business policies.
China’s Anbang Acquired Allianz’s South Korea Operations After Dropping Its Bid for Starwood Hotels
Anbang Insurance is acquiring Allianz’s operations in South Korea after dropping its offer to buy Starwood hotels. The deal is waiting for approval from South Korea’s financial regulator.
Pfizer to end merger deal with Allergan as new rules frighten corporate inversions
Pfizer, a US-based drug company, is said to dismiss its merger deal with Allergan. The US drugmaker wants to quit from the $160 billion merger deal since Washington authorities set new rules, making corporate inversions harder.
Halliburton Acquisition of Baker Hughes Faces a Legal Obstacle
United States Justice Department has prepared a lawsuit to block acquisition of Baker Hughes. Halliburton took over the company in November 2014.
Latest News
Valentino has made an offer to acquire French fashion house Balmain for 500 million euros. Balmain’s heirs has decided to find a new owner after the fashion house’s former chairman and majority owner, Alain Hivelin, passed away in 2014.
Top M&A lawyer, Scott Barshay, leaves Cravath to be a global head of mergers and acquisitions for rival law firm Paul, Weiss. Mr. Barshay has been representing big and high-profile clients, including Honeywell, Starwood, and 3G investment firm.
Abu Dhabi's TAQA is cutting its capital expenditures by reducing its workforce around the globe and sells it assets to recover from its losses.
GE will sell its U.S. hotel franchise for $1.4 billion and its other business that finances Canadian hospitality and restaurant industries, separately. The completion of the transaction is expected to close by the second quarter of this year.
Music streaming company Spotify raises $ 1 billion deal through financing in the form of convertible debt. TPG rounded the funds together with Dragoneer along with other institutional investors. The deal placed by Goldman Sachs is expected to close on April 2.
Yahoo potential buyers only have until April 11 to submit their bid. Along with the proposed amount are details on how the purchase would be financed, conditions or approvals to be met and what important foundation to make by deciding to push through with a deal. Verizon and Time Inc. already shown interest to acquire Yahoo’s core business the past few months.
Synova Capital has sold its UK fashion accessories brand TLG Brands to Hong Kong’s Global Brands Group. Under Synova’s ownership, TLG Brands has been seeing strong growth and more presence in international as well as online markets.
A group of investors led by Macquarie has reached an agreement with utility company Cleco to acquire the latter for $3.4 billion during October 2014. The acquisition proposal has previously been rejected by Louisiana PSC last month due to absence of best interest offerings to the Cleco customers. However, the deal has been approved on Monday following revised commitments from both the parties.
Royal Dutch Shell is reportedly seeking buyers for its North Sea assets following the merger with BG. The oil company intends to raise $30 billion from the sale of its global assets in order to balance the BG merger expenses.
