HONG KONG (Reuters) – A heavily discounted purchase of a loss-making solar-panel maker last week has cast a spotlight on the Chinese takeovers of so-called listed shell companies in Hong Kong, which may be used to sidestep the bourse’s rigorous listing process.
China’s No.1 social network and online media company Tencent Holdings Ltd (0700.HK: Quote, Profile, Research, Stock Buzz) and developer Evergrande Real Estate Group joined forces to purchase Mascotte Holdings Ltd (0136.HK: Quote, Profile, Research, Stock Buzz) for $97 million, a 97 percent discount on the target company’s market capitalization.
* Airports, ports, power utilities most attractive assets -
* Companies keen not to repeat mistakes of 2008 M&A spree
* China deals in Europe on course to hit all-time record in
* China banks still financing Greek shipping sector
By Denny Thomas and Engen Tham
HONG KONG/SHANGHAI, June 30(Reuters) – As the risk of Greece
leaving the euro zone looms larger, Chinese companies are making
tentative assessments of potential buying opportunities in the
country, according to banking sources.
China Premier Li Keqiang assured European leaders on Monday
that the country wants Greece to remain in the currency area and
urged international creditors to reach an agreement on its debt.
SINGAPORE/HONG KONG, June 30 (Reuters) – The volume of Asia
ex-Japan mergers and acquisitions surged to a record $640
billion in the first half, preliminary data released by Thomson
Reuters showed, driven by the deal-making spree of Hong Kong
tycoon Li Ka-shing.
Bankers said a spate of potential consumer retail deals and
the delisting of more Chinese companies from U.S. stock markets
were likely to keep them busy in the second-half.
HONG KONG/NEW YORK (Reuters) – U.S. billionaire Paul Singer appears to have paved the way for activist investors to fight for shareholders’ rights where few hedge funds have ventured: Asia’s biggest family-run firms.
In the past few months, Singer’s $26 billion firm Elliott Management has taken on South Korea’s Lee family, founders of the Samsung Group [SAGR.UL], as well as the Li family, which founded Hong Kong’s third-largest lender Bank of East Asia Ltd (BEA) (0023.HK: Quote, Profile, Research, Stock Buzz).
SEOUL/HONG KONG (Reuters) – Any buyer of Tesco’s (TSCO.L: Quote, Profile, Research, Stock Buzz) $6 billion South Korea unit will need a strategy to boost returns in a lethargic and saturated market for traditional retailers, likely involving real estate sales and a greater focus on Internet shopping.
Britain’s Tesco has hired HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz) to advise on a potential sale of its South Korean unit, Homeplus, Reuters reported this month, in what could be Asia-Pacific’s largest private equity deal and the No. 2 merger in the Asian consumer sector.
HONG KONG, June 16 (Reuters) – Hong Kong’s brokers and
financial advisors are having a moment – a stock market boom is
drawing M&A interest by mainland businesses and shares of many
firms are soaring as investors try to work out which companies
will be wooed next.
In a new development, some deals have broken the traditional
mold of financials firms acquiring other financials. Tycoons
such as Alibaba co-founder Jack Ma and solar magnate
Cheng Kin Ming have bought into the sector, fuelling investor
HONG KONG/JAKARTA, June 12 (Reuters) – State-controlled PT
Telekomunikasi Indonesia Tbk has agreed to pay about
$300 million to buy Pacific island Guam’s telecom and
pay-television operator GTA, people familiar with the matter
told Reuters, in what will be the biggest overseas acquisition
by the Indonesian firm.
Earlier this month Indonesia’s biggest telecom operator,
known as Telkom, with a market value of $21.7 billion, agreed to
buy GTA from Japanese private equity firm Advantage Partners
without disclosing the deal’s value. The people familiar with
the matter declined to be identified as the deal value wasn’t
HONG KONG, June 11 (Reuters) – The exit of Deutsche Bank
co-chief executive Anshu Jain may see the lender
surrender its strong position in Asia’s fast growing foreign
exchange and fixed income markets, with incoming CEO John Cryan
expected to cut some of the capital-intensive businesses Jain
Deutsche was the joint No. 1 dealer by market share in
Asia’s foreign exchange markets in 2014, excluding Japan, and
third for fixed income, according to Greenwich Associates.
HONG KONG, June 9 (Reuters) – By pinning its hopes for
growth on Asia, and China’s Pearl River Delta region in
particular, the reasons in favour of HSBC shifting its
headquarters to Hong Kong are piling up.
Under a new strategy that will see it lose almost a fifth of
its workforce and slash its investment bank, HSBC said on
Tuesday that it is relying on an “Asia Pivot” to drive its
HONG KONG/SEOUL (Reuters) – British retailer Tesco Plc (TSCO.L: Quote, Profile, Research, Stock Buzz) has invited at least six firms including KKR & Co (KKR.N: Quote, Profile, Research, Stock Buzz) and Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz) to bid for its South Korean unit Homeplus, valued at about $6 billion, people familiar with the matter told Reuters.
A sale is seen as Tesco’s best bet to cut debt and fund a turnaround plan as it battles to recover from an accounting scandal and reverse market share losses at home to discount chains Aldi and Lidl.