Tag
38 stories in this topic
HSBC has announced that it will sell its life and health insurance division in Singapore to Germany’s Allianz. The deal, which values the unit at SGD2.7 billion (US$2.09 billion), is expected to produce a pre-tax gain of US$1.8 billion for HSBC and…
A new national resale record has been set in Queenstown, Singapore, after a two-bedroom public housing flat fetched a whopping SGD696,000 (US$539,000). The sale, completed on July 16, involved a unit located on a high floor at SkyParc @ Dawson. This…
ThaiBev, owned by Charoen Sirivadhanabhakdi, is reportedly contemplating the sale of its KFC franchise business in Thailand – the largest of its kind in the country. The fast-food chain’s operations are overseen by The QSR of Asia. This takeover was initiated…
Philippine Airlines, under the ownership of billionaire Lucio Tan, renowned for his ventures in the tobacco and banking sectors, has successfully garnered US$300 million via a five-year bond sale. This strategic move is aimed at financing the carrier’s…
Next month, Hanoi authorities are set to auction a two-hectare plot of land located in the city’s western region. The initial entry price has been established at VND1.06 trillion, or approximately US$40 million, which equates to VND52.9 million per square…
Starbucks, the prominent Seattle-based coffee chain, is contemplating various strategies concerning its Japanese operations, which could potentially involve selling its stake in the region. This business decision could garner attention from other industry…
Temu, a prominent Chinese online retailer, has been penalized with a €200 million (US$232 million) fine by European Union (EU) tech regulators for their apparent laxity in addressing the sale of prohibited products on its platform. The judgement came as part…
Gong Cha, the renowned bubble tea chain, has reportedly piqued the interest of potential buyers, including private equity companies Bain Capital and General Atlantic. The anticipated deal, initiated by the current owner and Boston-based private equity firm TA…
In response to heightened scrutiny by the European Union (EU), Chinese e-commerce platform AliExpress has announced enhanced measures to ensure compliance with the bloc’s regulations. This move comes as the EU intensifies its focus on rapidly expanding online…
Fonterra, the New Zealand-based co-operative, has announced that it is on the cusp of finalising the sale of its Mainland consumer business. As of now, the deal has met all the necessary conditions and is set to conclude within the current month. Regulatory…
Global luxury travel retailer DFS, which is owned by LVMH and Robert Miller, DFS’ co-founder and shareholder, has revealed they are set to sell their retail business across Greater China to the China Tourism Group (CTG) Duty Free. According to the agreement,…
The Telenor Group, a leading global telecommunications company, recently finalized its sale of Telenor Pakistan to Pakistan Telecommunication Company Limited (PTCL), a member of the international technology conglomerate e&. The transaction, first announced on…
A woman from Singapore, named Virginia Wong, has been mandated by the court to pay SGD20,000 (US$15,300) in damages to dealership Purpose Automobiles due to a discrepancy in the mileage of a Lamborghini Urus she sold them. Wong sold the vehicle to Purpose…
Fonterra’s farmer shareholders have granted approval for the company’s proposal to divest its consumer products division. The Mainland Group and its associated businesses are set to be sold to Lactalis for a sum of $4.22 billion. High Support for Divestment A…
The Coca-Cola Company is said to have received a bid from Bain Capital’s Special Situations division for its well-known café chain, Costa Coffee. Established in London in 1971 by brothers Bruno and Sergio Costa, the business started as a wholesale operation…
Magnum Ice Cream announced on Wednesday that it has no intentions of selling off Ben & Jerry’s, despite recent rumors. Instead, the company plans to focus on regaining market share and enhancing sales as Unilever’s spin-off of Magnum Ice Cream Company draws…
Weekly Briefing
Tuesday, Thursday and a Saturday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.
Read by retail operators, investors and brand teams across Asia.