Chief Correspondent, Hong Kong
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May 30, 2013

Rugby-Nine Welsh to start for Lions against Barbarians

HONG KONG, May 30 (Reuters) – Ireland’s Paul O’Connell will captain the side in place of Sam Warburton but nine Welshman were included in Warren Gatland’s first British and Irish Lions team for Saturday’s match against the Barbarians.

Lock O’Connell, who skippered the tourists in South Africa four years ago, will lead 17 new Lions out before the match at Hong Kong Stadium with Wales flanker Warburton rested after taking a knee knock in training.

May 29, 2013

Rugby-Despite Hong Kong empty seats, Lions give Asian game a boost

HONG KONG, May 29 (Reuters) – The match will probably not be a sellout, organisers conceded on Wednesday, but the arrival of the British and Irish Lions in Hong Kong for the first time has once again cast the spotlight on a region many see as vital for the future of rugby.

Over 30,000 Lions fans are expected to visit Australia for the three-test tour but not enough of the red-shirted horde decided to stop over in Hong Kong to fill the stadium for Saturday’s opening match against the Barbarians.

May 8, 2013

China Mengniu to pay $410 mln for stake in KKR’s Modern Dairy

HONG KONG, May 8 (Reuters) – China Mengniu Dairy Co Ltd’s
deal to buy a $410 million stake in China’s largest
unpasteurised milk producer is a strategic move to rebuild trust
after a series of scandals left local brands’ reputations in
tatters.

Mengniu, twice hit by accusations it sold tainted milk, said
on Wednesday it would buy 26.92 percent of China Modern Dairy
Holdings Ltd from private equity firms KKR & Co LP and
CDH Investments. The deal will lift Mengniu’s stake in China
Modern to about 28 percent.

May 8, 2013

Seeking control and confidence, China diary buys KKR milk stake

HONG KONG (Reuters) – China Mengniu Dairy Co Ltd’s (2319.HK: Quote, Profile, Research, Stock Buzz) deal to buy a $410 million stake in China’s largest unpasteurized milk producer is a strategic move to rebuild trust after a series of scandals left local brands’ reputations in tatters.

Mengniu, twice hit by accusations it sold tainted milk, said on Wednesday it would buy 26.92 percent of China Modern Dairy Holdings Ltd (1117.HK: Quote, Profile, Research, Stock Buzz) from private equity firms KKR & Co LP and CDH Investments. The deal will lift Mengniu’s stake in China Modern to about 28 percent.

Apr 5, 2013

Exclusive: UBS was mystery lender for Thai group’s $9.4 billion Ping An deal-sources

HONG KONG (Reuters) – The mystery lender behind a Thai billionaire’s $9.4 billion purchase of a stake in China’s No.2 insurer was UBS, which offered a last minute and complex financing package known to only a few involved, people with knowledge of the matter told Reuters.

The Swiss bank’s financial backing for the largest ever foreign purchase of Chinese stock explains how a Thai conglomerate scraped together $7.4 billion in cash for the deal’s final payment, after its main lender backed out at the 11th hour.

Apr 4, 2013

Exclusive: UBS was mystery lender for Thai group’s Ping An buy from HSBC – sources

HONG KONG (Reuters) – The mystery lender behind a Thai billionaire’s $9.4 billion purchase of a stake in China’s No.2 insurer was UBS, people with direct knowledge of the matter told Reuters, revealing how the bank stepped in at the last minute to offer a complex financing package known only to a few involved.

The Swiss bank’s financial backing for China’s largest ever foreign stock purchase explains how a Thai conglomerate scraped together $7.4 billion in cash for the deal’s final payment, after its main lender backed out at the 11th hour.

Apr 4, 2013

UBS was mystery lender for Thai group’s $9.4 bln Ping An deal-sources

HONG KONG, April 5 (Reuters) – The mystery lender behind a
Thai billionaire’s $9.4 billion purchase of a stake in China’s
No.2 insurer was UBS, which offered a last minute and complex
financing package known to only a few involved, people with
knowledge of the matter told Reuters.

The Swiss bank’s financial backing for China’s largest ever
foreign stock purchase explains how Thailand’s richest person
and his conglomerate pulled together $7.4 billion in cash for
the deal’s final payment, after its main lender backed out at
the 11th hour.

Apr 2, 2013

UBS’s Burnett joins mate Dowie for Asia StanChart role

SINGAPORE/HONG KONG (Reuters) – Standard Chartered PLC (STAN.L: Quote, Profile, Research, Stock Buzz) has hired Peter Burnett from UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) as its North East Asia head of corporate finance, beefing up its senior leadership with another high-profile regional veteran of the Swiss investment bank.

The hiring of Burnett, the Asia chairman of global capital markets at UBS, comes less than two years after Standard Chartered hired Mark Dowie. Dowie is Standard Chartered’s global head of corporate finance and a former UBS vice chairman of investment banking.

Mar 24, 2013

Jamaicans overcome hardships to make Sevens progress

HONG KONG (Reuters) – In the neighbourhoods where the Jamaican rugby sevens team trains, bullets fly and local gangs rule.

Their fields are as thin as asphalt and there is no weight training room.

Poor facilities is just one bump the organization has faced in the past few years, a larger one being the murder of Jamaica rugby stalwart Jacob Thompson in 2009.

Mar 24, 2013

Rugby-Jamaicans overcome hardships to make Sevens progress

HONG KONG, March 24 (Reuters) – In the neighbourhoods where the Jamaican rugby sevens team trains, bullets fly and local gangs rule.

Their fields are as thin as asphalt and there is no weight training room.

Poor facilities is just one bump the organization has faced in the past few years, a larger one being the murder of Jamaica rugby stalwart Jacob Thompson in 2009.

    • About Michael

      "In June 2009, Michael Flaherty became a Chief Correspondent for Reuters News, leading a team of journalists who cover investment banking, mergers & acquisitions, private equity and hedge funds, equity capital markets, natural resources and property across Asia. He arrived in Hong Kong in Feb. 2008 as Reuters' Asia Financial Services correspondent, covering the investment banks and M&A. Flaherty was hired by Reuters in New York in Dec. 2003. He was voted Reuters Journalist of the Year for his 2007 coverage of the U.S. private equity boom and bust. He started at Reuters with the consumer group covering office retailers ..."
      Joined Reuters:
      Dec. 1, 2003
      Awards:
      Peninsula Press Club, 2002, Reuters Journalist of the Year, 2007, M&A International, 2007
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