2014.1
SE Asia Deals: Nexus buys SSN Logistics stake
Khaitan & Co advises Morgan Stanley on its $930 million buyback offer to Cairn India, A&G guides Pacific Star on the $756.2 million sale of its Singapore property, and much more in our weekly Southeast Asia deals spotlight.
India picks banks ‘to sell $925 mln Axis Bank stake’
India has chosen JPMorgan Chase & Co, Citigroup Inc and JM Financial Ltd to help sell half of the government’s stake in Axis Bank Ltd valued at $925 million, said three people involved in the process.
Malaysia takes shot at becoming SE Asia hub for energy-efficient cars
Malaysia will let foreign companies such as Japan’s Mazda and Honda make small hybrid cars in Southeast Asia’s No.3 economy, which is competing with Thailand and Indonesia to be the regional hub for low-emission vehicles.
Aviva-Astra form Indonesian life insurance JV
British insurer Aviva has embarked on expansion into Indonesia through a partnership with local conglomerate PT Astra International to sell life assurance in a largely untapped market.
Newmont mulls legal action on Indonesia tax
Newmont Mining Corp said on Wednesday that it was considering legal action as well as other options in Indonesia, where it is facing a new export tax.
Takaful may reshape Oman’s crowded insurance market
Oman has seen the birth of its first Islamic insurance (takaful) firm as two others prepare to enter the market, hoping to gain an edge in the sultanate’s crowded insurance sector.
Investcorp sells stake in TDX to Equifax
Bahrain’s Investcorp and the founders of TDX Group have agreed to sell their stakes in the British technology firm to U.S. credit reporting agency Equifax Inc for 200 million pounds ($327 million), according to a filing at Bahrain’s bourse.
Qatar’s 1st IPO since 2010 fully subscribed
Mesaieed Petrochemical Holding Co, a unit of state-owned Qatar Petroleum, raised 3.2 billion riyals ($880 million) in the Qatari stock market’s first initial public offer (IPO) of shares since 2010, the parent firm said on Wednesday.
Arabtec wins $1.55 bln Jordan resort contract
Dubai contractor Arabtec Holding said on Monday it had won a 5.7 billion dirham ($1.55 billion) contract to build a resort in the Aqaba area of southern Jordan.
MAF ‘to invest $2.3 bln in Egypt’
Dubai retail group Majid Al Futtaim plans to invest about $2.3 billion in Egypt over the next few years, its chief executive said on Wednesday, in a sign of Gulf investors’ growing interest in the Egyptian economy.