US private equity firm Blackstone (BX.NYSE) withdrew its investment in a Chinese agricultural firm after concerns that price rises could land the firm in political hot water, the Financial Times reported, citing three unnamed sources. Blackstone paid US$194 million for 10% of Dili, a Shandong vegetable trader, as part of a five-member consortium in March 2010. The […]
Category: Investment
Brazil-based Vale (VALE.NYSE, VALE3.SAO), the world’s largest producer of iron ore, may raise its bid for South African copper miner Metorex (MTX.SJ) in response to a US$1.36 billion bid from Chinese nickel producer Jinchuan Group, Bloomberg reported. The bid is 21% higher than Vale’s original bid; if the bid is accepted, or exceeded by Vale, […]
US and Chinese officials will meet next week to discuss giving US securities regulators the ability to investigate companies within China, Bloomberg reported, citing two unnamed Chinese officials with direct knowledge of the plans. Representatives from the Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC) are set to discuss the […]
The China Development Bank (CDB), one of the country’s largest state-owned banks, is using its US$10 billion capital fund to take stakes in private equity and hedge funds investing in small- and medium-sized enterprises (SMEs) in Asia, the Financial Times reported. CDB is set to become a cornerstone investor in MP Pacific Harbor Capital, an […]
Chinese tree plantation operator Sino-Forest (TRE.TSX), under attack by short sellers who accuse it of overstating its timber holdings, recovered 30% in Toronto yesterday after Boston-based investment firm Wellington Management revealed it owned a 11.5% stake in the company, Bloomberg reported. Wellington, which manages US$663 billion in assets, appears to have massively increased its holdings […]