China DealBook
A Newsletter on Deal Making in China

By: ChinaDesk | April 28, 2017

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

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Deal News

China’s Didi Chuxing is raising up to $6 billion at a valuation of over $50 billion
Didi Chuxing, the on-demand giant that drove Uber out of China, is set to become the world’s second-highest valued tech startup. Less than a year after raising almost $3 billion, Chinese ride-hailing giant Didi Chuxing is on the cusp of adding a further $5 billion or more to its arsenal.

 

Reading between the lines, this investment looks as much like SoftBank Group Corp. pushing money onto the four-year-old company. Clearly, Masa is a fan of the collaborative approach being taken by Didi, which stands at loggerheads with Uber's combative style. That...

By: ChinaDesk | April 22, 2017

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

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Deal News


DUET says Australian government approves $5.5 billion takeover by CKI consortium
Australia's DUET Group on Friday said it had been advised by Cheung Kong Infrastructure Holdings (CKI) that the Australian government has approved the Hong Kong company's $5.5 billion consortium-led takeover offer.

In approving Li Ka-shing's takeover bid for Australia's electricity and gas utility Duet Group, the country's Treasurer Scott Morrison is admitting that the horse on foreign infrastructure investment has already bolted.

 

China's Bitauto raises $1 billion from internet giants Tencent, Baidu
Auto portal Bitauto Holdings Ltd has recently raised $1 bi...

By: ChinaDesk | April 20, 2017

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

weetabix_bright_foods_china_m&a_news_dealbook

Deal News

China's Bright to sell Weetabix to Post Holdings in $1.76 billion deal
China's Bright Food Group Co Ltd has agreed to sell iconic British cereal brand Weetabix to U.S. cereal company Post Holdings for $1.76 billion, a spokesman for the Chinese conglomerate said on Tuesday.

 

Bright Foods sells brand to US owner of Shredded Wheat and Bran Flakes after too few Chinese choose Weetabix for brekkie. The unchallenging cereal biscuit has failed to find favour in the far east – it couldn’t compete with the pork buns.

 

Alibaba’s Ant Financial may have won the bidding war for MoneyGram after upping its offer to $1.2B
Ant Financial, the Aliba...

By: ChinaDesk | February 23, 2017

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

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Deal News

Canada approves sale of retirement home chains to Cedar Tree Investment (Anbang)
The Trudeau government has green-lighted the sale of one of British Columbia’s biggest retirement home chains to a Beijing-based insurance titan with a murky ownership structure in a deal that gives China a foothold in Canada’s health-care sector.

 

On paper, a majority stake in Vancouver-based Retirement Concepts – believed to exceed $1-billion in value – is being sold to a Chinese-owned company called Cedar Tree Investment Canada. However, Cedar Tree is the company that China’s Anbang Insurance is using to make the acquisition.

 

Congo Said to Get $100 ...

By: ChinaDesk | February 08, 2017

A Newsletter on Deal Making in China

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Deal News

China M&A: Cross-border deals worth $75bn were cancelled in 2016, Baker McKenzie and Rhodium say
The value of cancelled Chinese overseas acquisition deals stood at $75bn in 2016, which was over seven times the $10bn worth of scrapped deals seen in 2015, according to an analysis by law firm Baker McKenzie and researcher Rhodium.

 

Regulatory and foreign exchange restrictions led to the failure of 30 Chinese acquisitions with European and US companies. While 10 US deals worth $58.5bn were scrapped, Europe saw 20 deals worth $16.3bn being cancelled. China's foreign exchange watchdog is said to have imposed most restrictions in 2016 over cross-border deals as part of its efforts to save...

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