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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.

Aug 25, 2014

Taiwan’s Wei family to buy cable TV operator CNS for $2.4 billion: msources

HONG KONG/TAIPEI (Reuters) – Taiwan’s Wei family has agreed to buy majority control of China Network Systems (CNS), the island’s biggest cable TV operator, for about $2.4 billion including debt from private equity firm MBK Partners, sources with direct knowledge of the matter said.

The Wei family, best known for controlling Hong Kong-listed noodle maker Tingyi Cayman Islands Holding Corp, is diversifying into telecoms and media. Its new 4G wireless services firm, Taiwan Star, will begin services this week.

Aug 25, 2014

Taiwan’s Wei family to buy cable TV operator CNS for $2.4 bln -sources

HONG KONG/TAIPEI, Aug 25 (Reuters) – Taiwan’s Wei family has
agreed to buy majority control of China Network Systems (CNS),
the island’s biggest cable TV operator, for about $2.4 billion
including debt from private equity firm MBK Partners, sources
with direct knowledge of the matter said.

The Wei family, best known for controlling Hong Kong-listed
noodle maker Tingyi Cayman Islands Holding Corp, is
diversifying into telecoms and media. Its new 4G wireless
services firm, Taiwan Star, will begin services this week.

Aug 19, 2014

Canada’s Couche-Tard makes short-list in $16 billion Sinopec unit sale: sources

HONG KONG (Reuters) – Canadian retailer Alimentation Couche-Tard Inc (ATDb.TO: Quote, Profile, Research, Stock Buzz) and China’s Tencent Holdings Ltd (0700.HK: Quote, Profile, Research, Stock Buzz) are among suitors short-listed to buy a $16 billion minority stake in China’s Sinopec Sales, the world’s largest fuel retail network, people familiar with the matter told Reuters.

China Life Insurance Co Ltd (601628.SS: Quote, Profile, Research, Stock Buzz), the nation’s biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd (2688.HK: Quote, Profile, Research, Stock Buzz) privately-owned Fosun Group, Hopu Investment Management and Affinity Equity Partners have also progressed to the next round, said the people who declined to be identified as the sale process is confidential.

Aug 19, 2014

Canada’s Couche-Tard makes short-list in $16bln Sinopec unit sale -sources

HONG KONG, Aug 19 (Reuters) – Canadian retailer Alimentation
Couche-Tard Inc and China’s Tencent Holdings Ltd
are among suitors short-listed to buy a $16 billion
minority stake in China’s Sinopec Sales, the world’s largest
fuel retail network, people familiar with the matter told
Reuters.

China Life Insurance Co Ltd, the nation’s
biggest insurer, Hong Kong-listed ENN Energy Holdings Ltd
privately-owned Fosun Group, Hopu Investment
Management and Affinity Equity Partners have also progressed to
the next round, said the people who declined to be identified as
the sale process is confidential.