Ele.me, a Chinese food delivery ordering platform backed by Alibaba Holdings and several private equity investors, has confirmed its merger with Baidu Waimai, the food delivery business of Chinese internet giant Baidu.
Under the agreement, Baidu Waimai has become a subsidiary of Ele.me and will continue to operate under its own name. The deal reportedly valued Baidu Waimai at around $800 million and gives Baidu’s management...
The Carlyle Group has applied for regulatory approval to acquire a 26% stake in Taiwan-based sushi chain Zhengxian, also known as Sushi Express.
Hong Kong-based insurer FWD Group and Malaysia’s Artem Ventures have set up a MYR 45m (USD 10.2m) VC fund focused on insurance technology and Islamic financial technology in Malaysia.
DeHaat, which claims to be India’s largest full-stack agricultural technology platform, has closed its Series E round on USD 60m. Sofina and Temasek Holdings were the lead investors.
Temasek Holdings has launched an internal review into the circumstances that led to its investment in collapsed cryptocurrency exchange FTX, but Singapore’s deputy prime minister refused to criticise the organisation’s governance structures.