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Oct 20, 2014

Qatar fund to buy stake in Hong Kong department store operator for $616 million

HONG KONG (Reuters) – Qatar Holding LLC has agreed to pay $616 million (382.45 million pounds) for about one fifth of Lifestyle International Holdings (1212.HK: Quote, Profile, Research), a department operator in Hong Kong and mainland China – the latest addition of a high-end retail brand to the sovereign wealth fund’s portfolio.

Lifestyle’s stores include a SOGO branded store in Hong Kong’s bustling shopping district of Causeway Bay and four Jiuguang stores on the mainland.

Oct 20, 2014

Qatar fund to buy stake in HK department store operator for $616 mln

HONG KONG, Oct 20 (Reuters) – Qatar Holding LLC has agreed
to pay $616 million for about one fifth of Lifestyle
International Holdings, a department operator in Hong
Kong and mainland China – the latest addition of a high-end
retail brand to the sovereign wealth fund’s portfolio.

Lifestyle’s stores include a SOGO branded store in Hong
Kong’s bustling shopping district of Causeway Bay and four
Jiuguang stores on the mainland.

Oct 15, 2014

With Glencore lurking, Rio Tinto stake gives Chinalco global clout

MELBOURNE/HONG KONG, Oct 16 (Reuters) – A seat on the board,
a bigger role in the world’s largest mining company, a copper
project in Peru or full control of an iron ore project in
Guinea.

Those are the sort of prizes Chinese aluminium firm
Chinalco, the top shareholder in Rio Tinto, is likely
to be looking for as trading giant Glencore weighs up a
fresh takeover approach for the Anglo-Australian miner, people
familiar with Chinalco’s strategy said.

Oct 13, 2014

China developer Agile slumps, chairman detained

HONG KONG, Oct 13 (Reuters) – Chinese developer Agile
Property Holdings Ltd, battling an industry slowdown
and media speculation about ties to China’s former security
chief, said it was in talks with banks about extending what
remains of a $475 million loan due in December.

Shares in the company, which is valued at around $2.1
billion, dropped by more than a fifth on Monday as they resumed
trading after a week’s halt. The company last week scrapped a
proposed $360 million rights issue – which would have gone
towards repaying the loan – and said its billionaire founder and
chairman Chen Zhou Lin had been detained.

Sep 30, 2014

China outbound M&A shrinks on graft crackdown, slowing economy

SINGAPORE/HONG KONG, Sept 30 (Reuters) – The volume of
China’s outbound mergers and acquisitions fell in the first nine
months of 2014, its first drop in three years, as state-owned
firms turned cautious in the wake of a slowing economy and
President Xi Jinping’s crackdown on corruption.

The value of outbound deals from China dropped by nearly 23
percent from the same year-ago period to $37.58 billion,
according to preliminary data from Thomson Reuters.

Sep 24, 2014

Exclusive: National Australia Bank considering sale of life insurance unit – sources

SYDNEY/HONG KONG (Reuters) – National Australia Bank (NAB) (NAB.AX: Quote, Profile, Research, Stock Buzz) is considering the sale of its life insurance unit worth an estimated $800 million, seeking to boost earnings and returns on capital, people familiar with the matter told Reuters.

Under new CEO Andrew Thorburn, Australia’s fourth-largest bank by market value hopes to speed up the disposal of assets to help it focus on its domestic and New Zealand franchises.

Sep 24, 2014

National Australia Bank weighing sale of life insurance unit: sources

SYDNEY/HONG KONG (Reuters) – National Australia Bank (NAB.AX: Quote, Profile, Research, Stock Buzz) is considering the sale of its life insurance unit worth an estimated $800 million, seeking to boost earnings and returns on capital, people familiar with the matter told Reuters.

Under new CEO Andrew Thorburn, Australia’s fourth-largest bank by market value hopes to speed up the disposal of assets to help it focus on its domestic and New Zealand franchises.

Sep 24, 2014

National Australia Bank weighing sale of insurance unit – sources

SYDNEY/HONG KONG, Sept 24 (Reuters) – National Australia
Bank, the country’s fourth-biggest lender by market
value, is weighing the sale of its insurance unit, which has
been a drag on its earnings and capital, people familiar with
the matter told Reuters.

The sources said they estimate the value of the unit at
about $800 million.

Under new CEO Andrew Thorburn, NAB hopes to speed up the
disposal of assets to help it focus on its Australia and New
Zealand franchises. Last month, it announced plans to list its
U.S. unit Great Western Bancorp Inc.

Sep 2, 2014

Siam Commercial Bank in talks to sell 25 percent stake in insurance unit: sources

HONG KONG/BANGKOK (Reuters) – Siam Commercial Bank (SCB.BK: Quote, Profile, Research, Stock Buzz), Thailand’s third-largest lender, is in talks to sell a 25 percent stake in its life insurance business SCB Life Assurance PCL (SCBLIF.BK: Quote, Profile, Research, Stock Buzz), people familiar with the matter told Reuters.

Siam Commercial Bank is mostly in discussions with Japanese insurers, although no deal is imminent, they added, declining to be identified as the plans were confidential. The stake sale could fetch about $600 million based on SCB Life’s current market value of $2.4 billion.

Sep 2, 2014

Siam Commercial Bank in talks to sell 25 pct stake in insurance unit-sources

HONG KONG/BANGKOK Sept 2 (Reuters) – Siam Commercial Bank
, Thailand’s third-largest lender, is in talks to sell a
25 percent stake in its life insurance business SCB Life
Assurance PCL, people familiar with the matter told
Reuters.

Siam Commercial Bank is mostly in discussions with Japanese
insurers, although no deal is imminent, they added, declining to
be identified as the plans were confidential. The stake sale
could fetch about $600 million based on SCB Life’s current
market value of $2.4 billion.