IDG Capital Partners has agreed to acquire a 20% stake in French soccer club operator Olympique Lyonnais for €100 million (US$112 million) via convertible bonds to help it expand in China, says a company announcement. As part of the investment, which is based on a €500 million valuation post-money, IDG and Olympique Lyonnais plan to […]
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A unit of HNA Group Co., Ltd has invested RMB910 million (US$137 million) in Chinese petrochemical enterprise Tianjin Northern Petroleum to acquire an 80% equity stake, according to an article by Caixin Meida. The unit, HNA Logistics, plans to develop the company into an aircraft and marine fuel provider, an operator of petrochemical bases and […]
A unit of HNA Group Co., Ltd. has completed a US$450 million strategic investment in Azul S.A., Brazil’s third largest airline, with support from Bravia Capital Partners and UBS Investment Bank, says a company announcement. The unit, Hainan Airlines Co., Ltd., has acquire a 23.7% economic stake in Azul to become the single largest shareholder […]
In a landmark deal, Chinese ride share giant Didi Chuxing has agreed to acquire all assets of Uber China, including its brand, business operations and data for operation within China, according to a company announcement. In exchange for the Uber China assets, Uber will receive 5.89% of the combined company with preferred equity interest which […]
China revealed a set of ride-sharing regulations to legalize car-hailing services from November, lifting any regulatory uncertainty surrounding mobile Internet giants including Didi Chuxing and Uber China. China’s Ministry of Transportation and six other government ministries jointly revealed the set of rules during a press conference today in Beijing. Named Preliminary Rules on the Management […]
Chinese authorities are planning to tighten the regulations on banks’ Wealth Management Products (WMP) investment, which could benefit the bond market, says a research report by ANZ AG. Investments in “non-standard assets” and equities will be further tightened, as the China Banking Regulatory Commission (CBRC) plans to classify banks into two groups. The banks in […]
Chinese Internet firm LeEco has agreed to acquire American television maker Vizio for US$2 billion, in an important step of the company’s strong push in the U.S. market. LeEco’s founder and CEO Jia Yueting said the companies started negotiations two years ago, and accelerated talks earlier this year to reach final agreements. The ambitious Chinese […]
The city of Chengdu in Western China has launched a financial industry innovation center with an aim to become China’s fourth financial pillar, after Beijing, Shanghai, Guangzhou and Shenzhen. The Financial Dreamworks Chengdu, which claims to be the first space dedicated to innovation in the financial industry in China, began recruitment in Chengdu yesterday, says […]
Chinese investors pumped US$17 billion into overseas real estate investment during the first five months of 2016, becoming the world’s second largest source of outbound property investment capital after the U.S. at US$19 billion, says a report from real estate service firm DTZ/Cushman & Wakefield. Office led the way at a 50% share of all […]