CHINA’S RIDE APP DIDI LIKELY TO PICK NEW YORK FOR ITS UPCOMING IPO

Highlights –

• China’s ride app Didi likely to pick New York for its upcoming IPO.
• The company is hoping for a valuation of at least $100 billion.
• Didi is said to have discussed the option of listing via a SPAC.
• In 2019...

PTT GROUP AND RENEW POWER DEAL CANCELLED

HIGHLIGHTS

• The deal between PTT Group and ReNew has been cancelled.
• Now PTT is considering to invest in renewable energy on many projects in the targeted countries including India.
• ReNew has acquired RMG Acquisition Corp.

...

KAI REPORTS FINAL ASSEMBLY OF THE COUNTRY’S FIRST INDIGENOUS DEVELOPED FIGHTER JET

Highlights –

• KAI reports final assembly of the country’s first indigenous developed fighter jet.
• The country has been working on the KF-X project to replace the Air Force's aging fleet of F-4 and F-5 jets.
• KAI started the fi...

TAKEDA AIMS TO GO PUBLIC IN THE NEXT 5 TO 10 YEARS AFTER BLACKSTONE’S ACQUISITION

Highlights –

• Takeda Pharmaceutical aims to go public in the next 5 to 10 years after Blackstone’s acquisition.
• The unit needs to expand its business overseas in Chinese-speaking markets.
• Takeda plans to sell its drug unit to Bl...

ATOS ACQUIRES FRENCH CONSULTING FIRM ECOACT

HIGHLIGHTS

• French IT services giant Atos has acquired consultancy firm EcoAct.
• EcoAct specialises sustainability and renewable energy deployment.
• EcoAct has 150 employees in offices across Europe, North America and Africa who will now work ...

SOUTH KOREA NEEDS TO FILL SECURITY LOOPHOLE ON DEFENSE TECHNOLOGY

HIGHLIGHTS

• South Korea is facing problems of technology leaks in defense sector.
• DAPA has found out that two former employees stole data from the computers in storage devices.
• The employees are absconding, fled abroad.

Def...

ALLEGED TECH LEAKS CAUSE DEMAND FOR POLICE INVESTIGATION

HIGHLIGHTS

• South Korea's arms procurement agency suspects that some defense development institution allegedly leaked massive amount of information.
• The agency is demanding police investigation against those officials.

South Korea...

SOUTH KOREA INVITES BIDS FOR ROK NAVY’S KDDX FUTURE DESTROYER

HIGHLIGHTS

• The bids for KDDX have been invited by DAPA of South Korea.
• KDDX will be equipped with many weapons, radars, and sensors.

On 29 MAY 2020, South Korea's Defense Acquisition Program Administration (DAPA) has begun the co...

THE MERGER OF CONSUMER PRODUCTS HAS FAVORED TATA GROUP

Highlights

• The markets have warmed up to the move
• The merger will broaden the product portfolio along with doubling the household reach

The Tata group had earlier announced a restructuring of its consumer products business. It was un...

EXOR TO SELL PARTNERRE TO COVEA

Highlights

• The deal is worth $9 billion
• MoU has been signed between the two

On Tuesday, Exor stated that it has entered a memorandum of understanding (MoU). MoU is to sell its 100% stake in PartnerRe. It will be sold to Covea. The d...

GILEAD SCIENCES INC WOULD BUY FORTY SEVEN INC

Highlights

• The deal would be for $4.9 billion
• It will add to its portfolio of oncology drugs

On Monday, Gilead Sciences Inc said it would buy Forty Seven Inc. It will be $4.9 billion in cash. To its portfolio of oncology drugs, it w...

NEW PRODUCTS UNDER NESTLE AND STARBUCKS ALLIANCE TO HELP INCREASE SALES

Highlights

• Many products will be introduced globally
• The alliance will help Nestle to tackle competition in the coffee market

New products developed under the coffee alliance of Nestle and Starbucks will help to increase sales. It is...

BHARTI INFRATEL EXTENDS DEADLINE FOR THE INDUS MERGER

Highlights

• It has been shifted to April 24
• It has been extended for the third time

On Monday, the board of Bharti Infratel extended the deadline for the closure of its merger with Indus Towers. It wa...

PEPSICO INC TO BUY BE & CHEERY

Highlights

• The deal is worth $705 million
• Be & Cheery is one of the largest online snack companies of China

PepsiCo Inc has agreed to buy Be & Cheery. Be & Cheery is a Chinese snack brand. It will be bought from the local...

NEW YORK DROPS ITS FIGHT AGAINST A MERGER DEAL

NEW YORK DROPS ITS FIGHT AGAINST A MERGER DEAL

Highlights

• Merger is between Sprint Corp and T-Mobile US Inc  
• The deal is worth $40 billion

On Sunday, New York dropped its fight against a merger deal. ...

TAX DEPARTMENT TO SCRUTINIZE SEVERAL MERGER DEALS

Highlights 

• It applied for companies who merged through share swaps
• As they might have artificially created or inflated goodwill 

Several deals have come under the lens of the tax department. The merge of b...

NIDEC CORP PLANS TO FOCUS ON ELECTRIC VEHICLE POWERTRAINS

Highlights

• Their growth strategy lies in the EV motor system
• They will also focus on merger and acquisitions 

Over the next five years, Japan’s Nidec Corp plans to increase its revenue. It intends to do th...

Takeaway.com declared a takeover of Just Eat

Takeaway.com declared a takeover of Just Eat 

Highlights

• The deal is for $7.8 billion
• Approval of Competition authority is awaited 

On Friday, Takeaway.com declar...

ENBRIDGE FACES CRITICISM ON ITS SELLING PLANS

Highlights

• Enbridge says it would benefit western Canadian industry
• Oil producers of Canada criticizes it

Enbridge Inc has received a lot of criticism lately. It is a Canadian pipeline company. On Thursday, it said t...

AZUL TO ACQUIRE TWO FLEX

On Tuesday, Azul SA stated that it will buy Two flex, a regional carrier. Azul is Brazil’s third-largest airline. The deal will be worth 123 million reais ($30 million). The aim of Azul SA behind this purchase is to expand its presence at the disputed domestic airport of Sao Paulo.