Category: Investment

Morgan Stanley (MS.NYSE) has been approved to sell its 34.9% stake in leading mainland investment bank China International Capital Corp (CICC) to private equity investors including KKR (KKR.NYSE) and TPG Capital, Bloomberg reported. Morgan Stanley will realize a pretax gain of US$700 million and be cleared to move ahead with a joint venture with China […]

China’s Bright Food Group (600597.SH) is close to announcing a deal to acquire US vitamin retail chain GNC Holdings for US$2.5-3 billion, Reuters reported, citing a source familiar with the situation. GNC, currently owned by Ares Management and the Ontaria Teachers’ Pension Plan Board, sells nutrition supplements, vitamins and other diet products through 7,100 stores […]

New York-based cosmetics group Coty will acquire a majority share of Chinese skin-care company TJoy Holdings to expand its footprint in mainland China, Bloomberg reported. Coty, wholly owned by German company Joh A. Benckiser, focuses on fragrance brands, which include products by Calvin Klein, Sarah Jessica Parker and Vera Wang. The TJoy acquisition will bring […]

Tax haven Bermuda has signed an agreement with China to exchange tax information, Bloomberg reported. According to a statement by the Bermuda government issued over the weekend, the two countries finalized the agreement on Thursday. The treaty will allow Beijing to more closely monitor and assess the tax status of Chinese individuals and companies operating […]