Carlyle preferred bidder for Baring PE’s Hexaware in $3 bln deal, sources say
Global private equity firm Carlyle Group has emerged as the preferred bidder for Baring Private Equity Asia’s (BPEA) Indian portfolio Hexaware Technologies in a $3 billion deal, two people with knowledge of the situation said. If successful, Carlyle would be winning a competitive bidding process against peer firms including KKR & Co and Bain Capital, […]
Billionaire brothers who own Asda ‘plan to open 300 new convenience stores’
The billionaire brothers behind Asda’s £6.8billion takeover are reportedly planning to open more than 300 convenience stores across their petrol station estate. Mohsin and Zuber Issa want to roll out “Asda on the Move” stores in their EG Group forecourts following a successful trial, according to The Sunday Times. The siblings, who own around 400 petrol […]
IRISH TECH COMPANIES RAISE RECORD VENTURE CAPITAL FUNDING OF €392M IN SECOND QUARTER
Venture capital investment into Irish tech firms in the second quarter this year hit a record €392m, up 7.6% on the same period in 2020 which was itself unprecedented, according to the Irish Venture Capital Association VenturePulse survey published today in association with William Fry. The survey also reports a record half-year to €641m, up 8% […]
Forbes to go public through Magnum merger
News publisher Forbes Global Media Holdings agreed to go public through a merger with blank-check firm Magnum Opus Acquisition as deal activity heats up in the media business. The combined company will have a pro forma equity value of $630 million, according to a Thursday statement. Forbes’ management team will remain in place after the […]
Sainsbury’s in talks to sell bank arm to Centerbridge
Sainsbury’s in talks to offload its Edinburgh-based banking arm to US private equity group Centerbridge Partners, it has been reported. A deal could be worth about £200 million and would end months of speculation that has linked the business with a number of potential suitors including NatWest (RBS) Group. The supermarket chain kicked off an […]
Amazon has picked a fintech startup as its first bet in India’s wealth management sector
On August 18, the American e-commerce major made its first investment in India’s wealth management sector when it participated in a $40 million funding round of six-year-old startup Smallcase. Amazon’s backing comes out of the $250 million corpus it announced as part of its Smbhav Venture Fund for Indian small and medium enterprises last year. Amazon is far from the […]
Geely’s EV brand Zeekr raises $500 million in first external funding
Zeekr, the electric vehicle brand by Geely, said on Friday it raised $500 million in its first external funding from investors including Intel (NASDAQ:INTC) Capital, battery maker CATL, and online entertainment firm Bilibili (NASDAQ:BILI). Led by Chief Executive Andy An, who is also Geely’s president, Zeekr said investors would jointly hold a 5.6% stake in […]
Picsart raises $130m in funding round valuing the company at over $1bn
Picsart has raised $130 million in a Series C funding round led by SoftBank Vision Fund 2 with participation from new investors G Squared and Tribe Capital, as well as existing investors Sequoia, DCM, Graph Ventures, and Siguler Guf & Company. With over $100 million in annual revenue run rate, Picsart is now valued at […]
KKR and Salesforce Ventures back Leapwork in record series-B round
KKR and Salesforce Ventures have invested $62 million in a Series B round for Copenhagen-based, no-code software test automation platform Leapwork, to accelerate its global expansion. The company’s existing investors DN Capital and Headline continue to support the business and made an undisclosed, but ‘significant contribution’, to this Series B funding round as well. Leapwork […]
KKR’s Axel Springer locks down deal for Politico
KKR-backed Axel Springer has agreed to purchase Politico in a deal that’s reportedly valued at over $1 billion, as private equity firms continue to grow their media industry influence. Reports emerged last week that the German publisher was exploring an investment in or full buyout of Politico. A $1 billion deal would amount to five times the news […]
