Chinese companies are already closing in on last year’s record for overseas mergers and acquisitions, aiming to offset a domestic slowdown and gain access to cutting-edge technology and prominent brands, reports the Nikkei Asian Review. Chinese businesses spent $101.1 billion on deals for foreign companies between January and March alone, a record for the quarter. This […]
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Alibaba in US$1bn Lazada deal
Alibaba Group Holding has agreed to buy a controlling stake in Southeast Asian online retailer Lazada Group for about US$1 billion, its biggest deal overseas, as the Chinese e-commerce giant seeks fertile new turf while growth slows at home, according to the South China Morning Post. Lazada, founded by Germany’s Rocket Internet in 2012, is […]
A day after raising its offer for Starwood Hotels & Resorts, Anbang Insurance Group moved to reassure investors that it can afford the $14bn price tag, reported the Financial Times. Costly borrowing has played a significant role in its global shopping spree, which took an obscure Chinese car insurer and turned it into a $290bn […]
Chinese insurer Anbang raised its bid for Starwood Hotels & Resorts to $14bn in its latest effort to trump a rival offer from Marriott International, reported the Financial Times. The Chinese insurer sweetened its all-cash offer to $82.75 per share, a non-binding proposal the US hotel operator said it was likely to consider superior to […]
The People’s Liberation Army and the nation’s armed police are set to stop providing all paid services in a move to curb corruption and make the army more loyal and focused on combat, reported the South China Morning Post. The reform, first announced by President Xi Jinping in November, is expected to be completed in […]