China DealBook
A Newsletter on Deal Making in China

By: ChinaDesk | March 07, 2017

A Newsletter on Deal Making in China | M&A . Investment Banking .VC . PE . Deals

jd.com_financial_services_division
Source: China Business News

Deal News


Alibaba’s arch rival JD.com spins out its financial services business
Chinese online retailer JD.com has agreed to sell its entire 68.6% stake in its financial unit JD Finance, which is backed by Chinese investors including Sequoia Capital China, for RMB14.3 billion ($2.1 billion) in cash.

 

JD.com Inc. agreed to sell its finance arm while retaining a share of its future profits, part of a deal to spin off the fast-growing division and create a strong rival to billionaire Jack Ma’s Ant Financial. Alibaba’s Ant Financial fintech affiliate is out doing deals to expand its global presence and raising a $3 billion war chest for f...

Category: Daily Newsletter 

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By: ChinaDesk | March 01, 2017

A Newsletter on Deal Making in China | M&A . Investment Banking .VC . PE . Deals

BOC_HK_China_Deal_M&A_news_Newsletter

Deal News

Bank of China HK unit buys Indonesia, Cambodia businesses from parent
BOC Hong Kong Holdings Ltd, a unit of Bank of China Ltd, said on Tuesday it had agreed to acquire Indonesia and Cambodia businesses from its parent for about $377 million, as parts of its push into Southeast Asia.

 

The latest move comes after BOC Hong Kong last year raised about $10 billion by divesting its holding in Hong Kong-based banks, and said a part of the proceeds would be used to expand its presence in ASEAN.

 

GIC Invests 18% in China EV System Provider ALT
Shanghai-based Advanced Leading Technology Group (ALT) announced today that Government of Singapore...