South Korean-based private equity firm Hahn & Co will pay $283 million to buy a 76% stake in Hanjin Shipping Co's bulk carrier business, Bloomberg reported.
Sectors
Virtual currency Dogecoin gets hacked at height of niche growth
Dogecoin, which grew from a satirical meme to Bitcoin to a pseudo-legitimate currency, experienced a big hack today after virtual wallet Dogewallet announced its shutdown of services due to hackers who stole around $12,000 worth of Dogecoins from the site.
Gogolook confirms acquisition of company by LINE owner Naver
Gogolook chief executive officer Jeff Kuo confirmed to TechCrunch about the company's merger with Korean Internet company and LINE app owner Naver, which was worth TW$529 million or $17.6 million, according to a state report.
Aptalis files $500M common stock IPO
A filing with the US Securities and Exchange Commission revealed that Aptalis Holdings Inc has plans to conduct a share sale on the Nasdaq Stock Market and raise up to $500 million in the process.
Pilot scheme to open and improve mobile telecoms market gets approval in China
A total of 11 companies, including a subsidiary of online retail giant Alibaba obtained approval from Chinese authorities to be able to purchase mobile services from major providers and repackage them to offer to end users, the Ministry of Industry and Information Technology (MIIT) said on Thursday.
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Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
The Slovenian beer market may turn sour as the government plans a state fire sale of its assets in a bid to steady its finances and avoid a bailout, Reuters reported.
Venture capital firms have supported niche e-commerce firms in India like CarDekho.com and Lenskart because they are profitable but require less capital, The Financial Express reported.
UK Sinha, Chairman of Securities and Exchange Board of India or Sebi, said firms can be creative in their advertisements to attract investors to their IPOs but they must contain all required disclosures.
Japan's Softbank Corp is likely to tap the US bond market to fund the $20 billion acquisition of US wireless carrier T-Mobile, according to a report by the Nikkei business daily.
Minnesota-based developer CSM Corp bought the historical building in downtown Phoenix, Hotel Monroe in a deal valued at $7.85 million, according to a commercial real estate research firm.
The UK government is mulling on rule changes that would make it easier for small and medium-sized businesses (SMBs) to obtain funding from alternative financiers and new banks.
The number of internet cafés in China has decreased, a collateral damage to China's bid to go online as smartphones and tablet devices grow in popularity, a Financial Times report said.
Sources said Japan is preparing to introduce guidelines for institutional investors known as the Japanese Stewardship Code, which would improve returns, transparency and corporate governance, Reuters reported.
