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Potential bidders are expected to include Hong Kong conglomerate Chow Tai Fook and Asian PE firm PAG.
Alibaba Group’s newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion in fresh funds, people with knowledge of the situation told Reuters. Alibaba combined the operation of food delivery service Ele.me and online restaurant guide business Koubei under a… Read more »
A stake of Chinese private lender WeBank is being auctioned with a price tag of $63.63 million following a court ruling.
Wanda paid $3.5 billion in early 2016 for Hollywood studio Legendary Entertainment, maker of “Pacific Rim” and “The Great Wall”.
Its backers include Baidu and Tencent as well as Sequoia Capital China and government-backed investment firm China Chengtong Fund.
Private equity’s banner year also comes as the region’s companies face challenges, with trade tensions and regulatory scrutiny curbing outbound deals from China, the dominant dealmaking force for the past three years.
HNA had bought Pactera from Blackstone in 2016 for $675 million (515 million pounds) in cash.
Since January, HNA has sold or agreed to sell over $20 billion worth of assets, including real estate in Sydney, New York and Hong Kong.
The assets on sale are part of the portfolio of apartment buildings Anbang bought from Blackstone for around $2.3 billion.
PAG’s bid for Spring REIT would value the company at $780 million, and is the latest in a long battle between the two.