Chinese state-backed investors are looking to take BMW’s main Chinese joint-venture partner Brilliance private, five people with knowledge of the matter told Reuters, in the latest such deal targeting beaten down Hong Kong-listed stocks, reported Reuters. The deal to take it private would be led by state-controlled Liaoning Provincial Transportation Investment Group, which owns 12% […]
Category: Investment
US office-sharing firm WeWork on Thursday said it will sell control of its China division to one of its investors – private equity firm Trustbridge Partners – as it steps back from a competitive market where it has suffered low-occupancy rates, reported Reuters. The deal effectively offloads the China unit away from the parent, which […]
Things got murky on a couple of fronts this week. The deadline for a sale of TikTok to an American entity resulted in Bytedance proposing a deal with Oracle which would give the US software company a small stake in TikTok’s US operation and provide some oversight of its data and code. Is this enough […]
China’s state planner said on Wednesday it had approved six fixed-asset investment projects across the country worth a combined RMB 88.2 billion ($13.03 billion) in August, reported Reuters. Meng Wei, a spokeswoman for the National Development and Reform Commission, disclosed the figures in a press briefing where she also gave some fixed asset investment data […]
China Evergrande New Energy Vehicle Group said on Tuesday investors including Tencent Holdings Ltd and Sequoia Capital will buy HK$4 billion ($516.12 million) worth of company shares in a share sale, reported Reuters. The electric vehicle unit of property developer China Evergrande said its controlling shareholder plans to sell 176.58 million existing shares, or about 2% of the […]