SG Dealbook: Tat Hong to go private in $283m deal; CWG note issue to fund M&As

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Tat Hong is set to delist from the SGX while CWG International has subscribed to a promissory note to finance acquisitions.

India Digest: Promoters vying to regain control of Essar Steel; SBI to sell bad education loans

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Ruia brothers have already floated an SPV that will be managed by the team comprising a former senior public sector banker and a former Steel Authority of India (SAIL) head.


India Digest: Blackstone eyes two L&T Realty properties; Binani Cement sale

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Blackstone is acquiring L&T Realty’s assets directly and not through existing joint ventures.


Japan’s GPIF picks StepStone as global infrastructure fund-of-funds manager

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GPIF awarded the global infrastructure core strategy mandate to StepStone after launching an RFP in 2017.


China Digest: Liking Fit closes $54m; Shenzhen Capital backs Zelgen

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Smart gym operator Liking Fit has raised $54 million while biopharma firm Zelgen has raised a $62 million Series B.


Capital Group said to eye pre-IPO stake in China’s biotech unicorn Innovent

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Innovent is planning an IPO this year that could raise more than $200 million and has been weighing the U.S. as a listing venue.


Vietnam Dealbook: Dempsey Hill disposes of MWG shares, Vinasugar II to auction 93% stake

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Dempsey Hill Asia Fund has transferred a million shares in Mobile World Investment JSC (MWG) to four foreign funds.


Air India to be split into four separate firms ahead of stake sale

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A successful sale of Air India — with $7.9 billion in debt, five subsidiaries and a joint venture, and a combined workforce of 27,000 — is crucial for Modi.


China’s JD.com said to target $2b fundraising at logistics unit

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JD has invited a select group of investors to join the funding round that values its logistics business at around $10b.


Japan: NEC Corporation acquires Northgate from Cinven in $649m deal

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Northgate develops software and services for the public sector and employs 1,400 engineers in the UK and India.