China Economic ReviewNestle (NESN.SIX) has agreed to purchase 60% of Hsu Fi Chi International (AS5.SGX), a Chinese snack and candy producer, for US$1.7 billion, Bloomberg reported. The world’s largest food company offered Hsu Fu Chi a deal valuing the firm at 8.8% above the closing stock price on July 8. It will leave the controlling Hsu family […]
Sun Art Retail Group (6808.HK), a Chinese consumer retail outfit, raised US$1.06 billion in an initial public offering after pricing at the top of its indicative price range on the Hong Kong Stock Exchange on Friday, the Wall Street Journal reported. The company, a joint venture between Taiwan’s Ruentex Group (2915.TT) and France’s Groupe Auchan, […]
Wal-Mart Stores (WMT.NYSE) and the Ikea Group are leading foreign retailers in a push to buy up land in China to develop stores and thus escape climbing prices, Bloomberg reported. Wal-Mart Stores, the world’s largest retailer, bought sites in Dalian last year, while Inter Ikea Centre Group, a property developer owned in part by Ikea, […]
China’s consumer price index (CPI) is predicted to rise by as much 6.2% in June, up 0.7% percentage points from May, state media reported. The 6.2% figure was forecast in a report by China International Capital Corp; other projections by investment bank economists are all over 6%. The central bank admitted that inflation remains high […]
Nestle (NESN.VTX) is in negotiations to acquire Chinese candy maker Hsu Fu Chi International, the Wall Street Journal reported, citing an anonymous source familiar with the matter. Hsu Fu Chi (AS5.SI) has a market value of US$2.6 billion, meaning the potential deal would be one of the largest foreign takeovers of a Chinese company. However, […]