Turkey
Two executives of former crypto investment platform arrested for fraud in Istanbul
Two executives from a former crypto investment platform accused of fraud were arrested in Istanbul earlier this year, Turkish media reported.
China Evergrande New Energy Vehicle (NEV) said it has suspended negotiations on amendments to the terms of a HK$3.89-billion ($497.42 million) share subscription agreement with Dubai-based mobility firm NWTN.
The announcement comes days after China Evergrande, the world's most indebted property developer, was ordered to be liquidated
China Evergrande New Energy Vehicle (NEV) said it has suspended negotiations on amendments to the terms of a HK$3.89-billion ($497.42 million) share subscription agreement with Dubai-based mobility firm NWTN.
In August, the electric vehicle unit of China Evergrande had agreed to issue 6.18 billion new shares to NWTN to support its parent's restructuring plan.
If the transaction had been completed, NWTN would have held a 27.50% stake in NEV, while China Evergrande's interest would have been diluted to 46.86%.
NEV said if it decides to proceed with the subscription deal with NWTN, the parties will renegotiate the amendments to certain key terms.
The parties "are still considering whether the Proposed transactions will proceed, and have yet to form a definitive view", the EV unit said.
The announcement comes days after China Evergrande, the world's most indebted property developer, was ordered to be liquidated after it was unable to offer a concrete restructuring plan. This was more than two years after it defaulted on its offshore debt and follows several court hearings.
Two executives from a former crypto investment platform accused of fraud were arrested in Istanbul earlier this year, Turkish media reported.
Abu Dhabi's Mubadala Investment Company applied to Turkey's Competition Board to take sole control of Turkish grocery delivery company Getir Perakende Lojistik, a statement on the board's website showed on Friday.
The negative impact on maritime shipping and global supply chains from attacks in the Red Sea continues to intensify as traffic is rerouted away from the Suez Canal, Danish shipping company A.P. Moller-Maersk said on Thursday.
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