Singapore’s sovereign wealth fund GIC has acquired a minority stake in Brazil-based pharmaceutical company Cimed, while EV maker VinFast has partnered with PT Aribi Amartapura to develop 22 new showrooms in Indonesia.
GIC buys stake in Brazilian pharma Cimed
Singapore’s sovereign wealth fund GIC has acquired a minority stake in Brazil-based pharmaceutical company Cimed, according to an announcement. The deal’s value was not disclosed.
The partnership with GIC will help Cimed accelerate its mission to provide health and well-being to all Brazilians, it said in a statement. The entry of GIC is part of the company’s growth strategy called “Cimed’s New Era” whose objective is to triple the company’s revenue over the next five years through innovation, technology, new business opportunities, and inorganic moves.
Cimed, owned by the Marques family, was advised in this process by JP Morgan and Spinelli Advogados.
The Marques family will remain the controlling shareholder of the group, whose business spans pharmaceuticals, consumer products, and distribution.
VinFast partners Amarta to roll out showrooms in Indonesia
VinFast has signed a Memorandum of Understanding (MoU) with Indonesian vehicle distributor PT Aribi Amartapura (Amarta), to accelerate the expansion of its showroom network in the country, according to an announcement.
Under the agreement, VinFast will leverage Amarta’s extensive market expertise and 25 years of experience to establish 22 new showrooms between 2025 and 2027, focusing on major cities such as Greater Jakarta and Bandung. Of these, 11 showrooms are set to open in 2025, with the earliest expected to launch in March 2025.
The partnership with Amarta will not only expand VinFast’s existing dealership network in Indonesia, but also align with its global shift to a dealership model, optimising operations, reducing costs, and strengthening brand presence in international markets.
“We are excited to collaborate with Amarta to bring our smart, eco-friendly electric vehicles closer to Indonesian consumers. This partnership allows us to fully capitalize on Amarta’s deep local expertise, laying a strong foundation for VinFast to become a household name in electric mobility,” said Pham Sanh Chau, CEO of VinFast Asia.
PT Aribi Amartapura is an automotive business company specialised in cars and motorcycle founded in 1999 with main operation in West Java province.
