VENTURE CAPITAL POST

San Francisco, California-based online car booking service Uber planned to venture into the Asia Pacific market and start hiring staff members across 14 cities, according to an Uber representative.

Former Philippine trade minister Roberto V. Ongpin and his associates have hiked their collective holding in real estate developer Alphaland Corp to 50.57%, diluting British fund Ashmore's interest to 24.41%.

Dubai, United Arab Emirates (UAE)-based oil and gas firm Dragon Oil Plc inked a deal to acquire the 40% stake of Australia-based firm Nido Petroleum Ltd in Service Contract (SC) 63, a petroleum block in Palawan, Philippines.

Philippine-based food and beverage manufacturer RFM Corp bought the Royal brand and pasta business from UK-based firm Unilever Group in a deal valued at approximately $47.8 million (PHP2.1 billion).

Philippine-based tollway developer Metro Pacific Tollways Development Corporation (MPTDC) acquired France-based tollway operator Egis Project SA stake in Manila North Tollways Corporation (MNTC) for PHP1.42 billion.

UK-based institutional currency investment manager Millennium Global Holdings Inc acquired a 51% stake in Philippine-based seafood exports business Millennium Ocean Star Corp in a deal valued at PHP137.91 million.

Cebu Air Inc., operating as Cebu Pacific Air, will acquire Tigerair Philippines from Singapore's Tiger Airways Holdings Ltd. for an undisclosed sum. Cebu Air and Tiger Airways also entered into strategic alliance to operate common routes between Singapore and the Philippines.

Singapore-based asset management company Black River Capital Partners Food Fund Holdings (Singapore) Pte Ltd has increased its holding in Philippine-based food exporter AgriNurture Inc, according to a stock exchange disclosure.

SMC Global Power Holdings Corp, the holding firm for San Miguel Corp's power generation assets, is eyeing for an initial public offering in 2014. SMC Global Power aborted its listing in September, citing adverse market conditions.

Philippines-based oil firm Trans-Asia Oil and Development Corp has agreed to acquire an unspecified amount of shares worth PHP136 million in Frontier Oil Corp next year, the latter said in a stock exchange disclosure.

Philippine-based JG Summit Holdings Inc has completed its buyout of San Miguel Corp's 27% stake in power distribution company Manila Electric Co (Meralco) for PHP72 billion.

Lazada, the "Amazon of Asia" has raised USD250 million from Rocket Internet to mainstream the company's position as the largest online retailer in Southeast Asia.

The Monetary Board of the Bangko Sentral ng Pilipinas has cleared the USD500 million loan from the Asian Development Bank. The said fund will be used to rehabilitate and reconstruct communities struck by super typhoon Haiyan.

SwissRe's recent report titled "Global insurance review 2013 and outlook 2014/15" provided an otherwise positive global economic outlook, which was a good sign in the non-life business as more people will seek financial protection for their properties.

Banco de Oro (BDO), the top lender in the Philippines, has successfully completed a PHP5 billion fundraising through an offering of high-yield deposits to retail and institutional investors.