Sourcing deals through South Korea's bankruptcy courts is notoriously complicated, but even by these standards Korea Line presented a challenge. The sale process was officially launched late afternoon on December 21, the Friday before what most people treated as a long weekend, given that Christmas Day fell on the following Tuesday. The deadline for submitting letters of interest was December 26, with due diligence commencing on January 2.
In all fairness, time was of the essence. Korea Line, the country's fourth-largest shipping company, entered bankruptcy and restructuring in early 2011 and the process was protracted by creditors waiting...
Chinese gene therapy specialist Exegenesis Bio has received $20 million in Series B funding led by Legend Capital. It will be used to support clinical development of the company’s drug portfolio.
Alibaba Group has led a $300 million round for Chinese electric vehicle (EV) manufacturer Xpeng Motors. It comes barely two weeks after the company closed an extended Series C round of $500 million.
EDBI, the investment arm of Singapore’s Economic Development Board, has invested in Vesta, a US-based fraud and payment technology start-up with ambitions to expand into Asia.
Hana Financial has invested KRW100 billion ($85 million) in a portfolio of Korean waste to energy (WTE) projects controlled by Global Infrastructure Partners (GIP).