Infinity Group, a private equity firm based in China, announced its investment of $4.2 million in Israel-based biotechnology firm BotanoCap, a developer of green solutions for various industries.
Middle East
Cash-rich Islamic banks seek to invest in Western businesses
Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
Private equity firm Fortissimo Capital submits winning bid for Israel's software company Eshbel
Fortissimo Capital, a private equity fund, won the bid for Israel-based Eshbel with NIS 192 million after the software company was put on the auction block.
Israel's Oramed Pharmaceuticals secures $13M in private placement- report
Oramed Pharmaceuticals Inc was able to secure $13 million from Special Situation Fund and Sabby Capital Healthcare, according to a report on Globes which cited sources.
Dubai's Dubai Islamic Bank approves foreign ownership increase to 25 pct
Dubai Islamic Bank said on Wednesday it would increase its foreign ownership limit to 25 percent from 15 percent.
Latest News
California-based firm Zimperium has raised $8 million in a funding round led by Sierra Ventures to develop its mobile technology that helps protect WiFi network users from hacker attacks.
Germany-based incubator program Rocket Internet is planning to team up with telecom provider MTN Group to form Middle East Internet Holding (MEIH), which will invest $410 million to develop e-commerce firms in the region.
Abraaj Capital Ltd said it intends to make one more investment in Turkey after it had acquired an 80% stake in a dairy maker this month, Bloomberg reported.
Solar Frontier, a wholly owned subsidiary of Japanese petroleum company Showa Shell Sekiyu, will be investing ¥13 billion ($125 million) to construct a solar panel plant in Japan's Miyagi prefecture.
Kuwait-based holding company Noor Financial Investment Company has decided to sell of its entire stake in Pakistan-based Meezan Bank Limited (MEBL) to Vision Financial Limited for $190 million, according to a notice issued on Wednesday.
Qatar's Al Jazeera is mulling over a bid for a controlling stake Turkish pay-TV company Digiturk. Digiturk is an Istanbul-based satellite TV provider with an enterprise value of $1.5 billion.
Israel-based public transit app Moovit has closed $28 million from a funding round led by Sequoia to improve its service that gives commuters a real-time perspective of the best public transportation routes.
Darty, the third-largest electricals retailer in the European region, had agreed to sell Darty Turkey to eliminate losses in non-core markets. Darty has responded to weak consumer spending and competition from online retailers by exiting its loss-making operations.
The Tel Aviv District Court has cleared Eduardo Elsztain and Moti Ben-Moshe's rescue plan for highly indebted conglomerate IDB Holding Corp. The partnership's takeover bid has won support from IDB's bondholders and creditors this month.
