12 JUL 2018 Top 10 Headlines | Singapore’s anti-trust body proposed fines on ride-hailing firms Grab and Uber, provisionally finding that their merger had reduced competition and suggesting remedies such as the sale of their car-leasing businesses.
The Competition and Consumer Commission of Singapore (CCCS) also warned that it may require the companies to unwind the merger depending on whether the remedies are successful but added a reversal may not be feasible, citing Uber’s exit from the market after the deal.
Uber sold its Southeast Asian business to bigger regional rival Grab in March in exchange for a stake in the Singapore-based firm, following similar deals by the U.S. firm in China and Russia. Read More | | | | | | | | | | | | | | | | | | | | | | | For more news, click here to visit the website |
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| Singapore’s anti-trust body proposed fines on ride-hailing firms Grab and Uber, provisionally finding that their merger had reduced competition and suggesting remedies such as the sale of their car-leasing businesses. Full Article |
| Stephenson Harwood has set up a banking practice in Singapore after hiring Gregory Xu as a consultant from Clifford Chance. Full Article |
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| Clifford Chance and JunHe Law Firm have advised China’s Bank of Jiujiang on its $486 million initial public offering on the Hong Kong Stock Exchange, with Sidley Austin and Haiwen & Partners representing the underwriters and joint sponsors. Full Article |
| Nixon Peabody CWL has hired John Maguire as a partner in Hong Kong from the Jack Ma-backed Yunfeng Financial Group, where he was the head of corporate finance. Full Article |
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| Indian law firm Tatva Legal has opened its sixth office in the southern city of Vijayawada, in the state of Andhra Pradesh. Full Article |
| DLA Piper has appointed capital markets specialist Yang Ge as a partner in Beijing from Shearman & Sterling, where she was counsel. Full Article |
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| Mayer Brown JSM is ending its formal alliance in Hong Kong with Jingtian & Gongcheng after the PRC firm decided to establish its own local law practice. Full Article |
| Top firms act on Xiaomi’s $4.7 bln IPO, AZB leads on Indus Towers and Bharti Infratel’s $14.6 bln merger, and much more in this week’s Asia Deals table. Full Article |
| Allen & Gledhill has successfully represented Indian dye company Kiri Industries Limited (KIL) in a minority oppression suit before the Singapore International Commercial Court (SICC), the first such decision from the SICC. Full Article |
| Nixon Peabody adds another seasoned lawyer, DLA Piper grows its securities practice with Shearman hire, and much more in this week’s Asia Appointments table. Full Article |
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