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

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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 | February 07, 2017

A Newsletter on Deal Making in China

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Deal News


China’s Global Auto Ambitions Get a Boost as Takata Picks Bidder
A year ago, Ningbo Joyson Electronic Corp. would have been an unlikely name on a shortlist of candidates to rescue Takata Corp., the Japanese air-bag maker that’s behind the biggest safety recall in automotive history. Joyson-owned Key Safety Systems Inc. has emerged as the leading bidder for Takata Corp. 


Bidders have favored a court-led process to cap their exposure to Takata's existing liabilities. Those liabilities are estimated by some analysts to be as high as $10 billion for recall costs alone. Such an option could deal a huge blow to shareholders, including the founding Takada family, a major investor....

By: ChinaDesk | January 27, 2017

A Newsletter on Deal Making in China

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Deal News


Ant Financial To Acquire US Payment Firm MoneyGram For $880M
Ant Financial Services Group, the financial technology affiliate of Alibaba Group Holding Ltd., has agreed to buy Dallas, Texas-based American money transfer company MoneyGram International Inc. for US$880 million to step up its international expansion.


Jack Ma’s Ant Financial has gotten itself an American Base. The purchase of the remittances firm looks like a counter-intuitive bet in a de-globalizing world for Alibaba’s financial services arm. International payments are a tough business. But MoneyGram gives Ant a base with connections to many developing markets. Analysts believe that it's a smart deal that is likely to face mor...