China DealBook
A Newsletter on Deal Making in China

By: ChinaDesk | February 21, 2017

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


Deal News

Dealmakers Battle for Chance to Run World's Biggest Chemical Company
It’s a battle of two great deal makers and the prize is potentially the chance to run the world’s largest chemical company.


On one side is Sinochem Group boss "Frank" Ning Gaoning, who is said to be in talks for a second major deal with global commodities trader Noble Group Ltd. On the other is Ren Jianxin, chairman of China National Chemical Corp., or ChemChina, whose $43 billion offer to buy Swiss pesticides-and-seeds maker Syngenta AG is currently wending its way through official reviews.


China wants to merge Sinochem and ChemChina as part of the ce...

By: ChinaDesk | February 17, 2017

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


Deal News

TVB’s second-largest shareholder says it rejects buyback offer
The plan by Chinese media mogul Li Ruigang to tighten his grip on Hong Kong’s main free-to-air television broadcaster may be heading for a messy tussle, after TVB’s second-largest shareholder today declared its opposition to a HK$4.21 billion buyback proposal.


Silchester International Investors LLP, a London-based fund owning 14.1 per cent of Television Broadcasts Ltd, or TVB, said the January 24 buyback -- revised on February 13 -- was “essentially a disguised nil premium takeover attempt” by the controlling shareholder Young Lion Holdings, at a time when TVB and its share pr...

Category: Daily Newsletter 

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By: ChinaDesk | January 27, 2017

A Newsletter on Deal Making in China


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...

By: ChinaDesk | January 11, 2017

A Newsletter on Deal Making in China


Deal News


Alibaba leads $2.55 billion bid for Chinese retailer Intime
E-commerce firm Alibaba Group Holding Ltd and the founder of Intime Retail Group Co Ltd have jointly bid to take the Chinese department store operator private for HK$19.79 billion ($2.55 billion), the partners said on Tuesday.


The bid for the remaining 63% of Intime carries a generous 52% premium to the company's average price over the last 90 days. That's twice the average four-week premium for similar retail bids in Asia, and looks pricey.


The deal to buy out Intime adds to Alibaba’s burgeoning foothold in physical retail as it pursues growth beyond a slowing online business. Control of Intime will also allow the e-commerce g...

By: ChinaDesk | January 10, 2017

A Newsletter on Deal Making in China


Deal News

Air Products Bids for China’s Largest Industrial Gas Maker
Air Products & Chemicals Inc. made an offer to buy China’s biggest producer of industrial gases as it seeks to compete with rivals such as Praxair Inc. in an industry marked by a wave of consolidation.


Air Products expressed preliminary, non-binding interest in acquiring all outstanding shares of Yingde Gases Group Co. The news sent shares of Yingde up 16 percent to HK$3.34 in Hong Kong trading, giving the target a market value of HK$6.3 billion ($812 million).


Yingde also received interest from StellarS Capital, it said in a statement to the Hong Kong Stock Exchange. The company will consider both proposals on Jan. 10.