GIC

A consortium led by Singapore's sovereign wealth fund GIC is buying a stake in Vinmec, the medical unit of Vietnam's largest conglomerate Vingroup, for over US$200 million (S$266 million), Vingroup said yesterday.

Vingroup said it would remain the controlling shareholder of Vinmec. The company declined to say how large a stake had been sold, citing the "commitment between two sides".

Vinmec operates seven hospitals and five clinics in Vietnam. Credit Suisse acted as the sole adviser to Vingroup, the company said.

REUTERS

BMW

The German luxury carmaker is planning to step up its production of electric vehicles, chief executive Oliver Zipse told German daily Augsburger Allgemeine.

Between next year and 2023, BMW will build a quarter of a million more electric cars than originally planned, he told the newspaper.

BMW wants roughly every fifth car it sells to be powered by an electric engine by 2023, Mr Zipse said, compared with about 8 per cent this year.

REUTERS

Orix

Orix has agreed to buy Spain's Elawan Energy, the Japanese financial conglomerate's first deal to acquire a majority stake in an overseas renewable power company.

Tokyo-based Orix is purchasing an 80 per cent stake from Elawan's management and Spanish industrial company Acek, a company spokesman said yesterday.

With an additional capital injection later, the deal is worth about 100 billion yen (S$1.3 billion). The transaction is expected to close in the second quarter of next year.

BLOOMBERG