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Dec 16, 2014

Standard Chartered in deal to sell Hong Kong, Shenzhen consumer finance units

HONG KONG/SINGAPORE (Reuters) – Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz) is selling its Hong Kong and Shenzhen consumer finance businesses to a consortium that includes a Chinese state firm, helping the emerging markets-focused lender to clinch its biggest asset disposal as part of a restructuring.

In what is expected to be the first of many divestitures, Standard Chartered has agreed to sell the units for between $600 million to $700 million, people familiar with the matter told Reuters. Standard Chartered announced the sale deal on Tuesday but did not disclose the value of the transaction.

Dec 16, 2014

Standard Chartered in deal to sell HK, Shenzhen consumer finance units

HONG KONG/SINGAPORE, Dec 16 (Reuters) – Standard Chartered
is selling its Hong Kong and Shenzhen consumer finance
businesses to a consortium that includes a Chinese state firm,
helping the emerging markets-focused lender to clinch its
biggest asset disposal as part of a restructuring.

In what is expected to be the first of many divestitures,
Standard Chartered has agreed to sell the units for between $600
million to $700 million, people familiar with the matter told
Reuters. Standard Chartered announced the sale deal on Tuesday
but did not disclose the value of the transaction.

Dec 14, 2014

China financial firms seek control deals in outbound M&A

HONG KONG, Dec 15 (Reuters) – Chinese financial firms are
targeting purchases of distressed banking assets coming on the
market in Europe, having been urged by Beijing to expand their
reach beyond emerging markets.

The first Chinese purchase of a European investment bank was
announced this week, with Haitong Securities agreeing
to pay 379 million euros ($470 million) for an investment bank
in austerity hit Portugal.

Nov 18, 2014

Tycoon Dhanin weighs buying back Tesco’s $10 bln Thai unit

BANGKOK/HONG KONG, Nov 19 (Reuters) – More than 15 years after
selling out of a local supermarket chain to Tesco plc,
Thai billionaire Dhanin Chearavanont is considering buying back
the business valued now at about $10 billion, sources said.

Thailand’s second-richest man has had informal talks with a
domestic bank to explore a bid for Tesco Lotus, whose 1,737
shops represent nearly three-fourths of all Asia outlets of the
accounting scandal-hit British retailer, a person with direct
knowledge of the situation said.

Nov 11, 2014

Asian buyout firm RRJ to invest $1 bln in U.S. LNG project

HONG KONG, Nov 11 (Reuters) – Asian buyout firm RRJ Capital
has increased its bet on the U.S liquefied natural gas (LNG)
sector by agreeing to invest about $1 billion in convertible
notes issued by Cheniere Energy Inc, the companies said
in a statement on Tuesday.

Hong Kong-based RRJ has the option to transfer part of the
notes to Temasek Holdings, the statement said. The Singapore
state investor is expected to take a “significant minority
amount” of the $1 billion notes by the end of November, a person
with direct knowledge of the deal told Reuters. The source
declined to be identified as details of the Temasek investment
are not public. Temasek declined to comment.

Nov 10, 2014

Telefonica sells half of China Unicom stake for 538.53 million pounds

HONG KONG/MADRID (Reuters) – Spanish telecoms giant Telefonica SA (TEF.MC: Quote, Profile, Research) sold half of its 5 percent stake in China Unicom (Hong Kong) Ltd (0762.HK: Quote, Profile, Research) on Monday for $854 million (538.53 million pounds), raising fresh funds for acquisitions.

Telefonica has been selling stakes in non-core assets for the last two years in order to raise money for acquisitions in Europe and Latin America, particularly in Brazil, where it is already a leading competitor.

Nov 10, 2014

Telefonica sells half of China Unicom stake for $854 mln

HONG KONG/MADRID, Nov 10 (Reuters) – Spanish telecoms giant
Telefonica SA sold half of its 5 percent stake in China
Unicom (Hong Kong) Ltd on Monday for $854 million,
raising fresh funds for acquisitions.

Telefonica has been selling stakes in non-core assets for
the last two years in order to raise money for acquisitions in
Europe and Latin America, particularly in Brazil, where it is
already a leading competitor.

Nov 7, 2014

Principal to buy AXA’s Hong Kong retirement savings unit for $335 mln

HONG KONG, Nov 7 (Reuters) – U.S.-based Principal Financial
Group Inc said on Friday it had agreed to buy French
insurer AXA SA’s Hong Kong retirement savings business
for $335 million in what would be the city’s first pension M&A
deal in more than a decade.

In a joint statement, the both companies said the purchase
would make Principal Hong Kong’s fifth-biggest retirement
savings provider, with $6 billion under management.

Nov 6, 2014

Temasek to exit STATS ChipPAC with $1.8 billion deal with China’s JCET

HONG KONG (Reuters) – Temasek Holdings Ltd is exiting STATS ChipPAC through a $1.8 billion deal with China’s Jiangsu Changjiang Electronics Technology Co Ltd (JCET) as the Singapore state investor makes room in its portfolio for more global purchases.

Temasek, which manages about S$223 billion ($173 billion), has been de-risking its portfolio by shedding large concentrated positions in publicly listed companies and putting more money into private ones as it looks to improve returns.

Oct 28, 2014

Reuters Summit – Hong Kong-China stock link-up undermined by tax issue

HONG KONG (Reuters) – China has yet to explain why the Hong Kong-Shanghai stock trading link-up missed its expected launch on Monday, but the landmark scheme to give investors in Hong Kong and the mainland direct access to each others’ market had failed to reconcile critical tax differences.

The Stock Connect scheme, considered a milestone in the liberalisation of China’s capital markets, would allow global investors for the first time to trade China shares via Hong Kong, while giving mainland investors access to Hong Kong-listed stocks.