China: Dah Sing gets five bids for insurance unit, top offer about $1.3b


The highest bid in the final round for the insurance business of one of Hong Kong’s last remaining family-run banks was close to $1.3 b, about 30 % more than initially expected. The offers include the ones made by Canada’s Sun Life Insurance Inc and Chinese property developer Country Garden Holdings Co.

China: Kunlun Energy seeks to sell upstream assets, buy LNG terminal from parent

Kunlun Energy Co., a unit of China National Petroleum Corp., plans to sell upstream assets and may buy an LNG terminal from its parent as the company shifts focus to gas distribution, Chairman Huang Weihe said. The company is seeking to sell international assets to its parent or to global oil… Read more »

China: Wanda, after pause, said to proceed with buyout of property unit

Billionaire Wang Jianlin’s Dalian Wanda Group Co. will proceed with plans to buy out its Hong Kong-listed property unit after considering whether to scrap the deal in the wake of Chinese regulatory concerns, people familiar with the matter said. Dalian Wanda Commercial Properties Co. is in the process of clearing… Read more »

Qihoo buyer group said to hit impasse with Chinese FX regulator

The Qihoo 360 Technology Co. buyout consortium, seeking to take the Chinese company private in a $9.3 billion deal, has hit an impasse with the nation’s foreign-exchange supervisor as the regulator scrutinizes the deal, people with knowledge of the matter said. China’s State Administration of Foreign Exchange, whose approval is… Read more »

Western Digital acquisition of China’s Sandisk approved

Western Digital is acquiring and merging with Sandisk in a strategic acquisition that will see it expand its Asia Pacific presence and tap onto the demand from Asian growth markets.

China’s Wanda Group reconsiders de-listing property unit

Dalian Wanda Group is reconsidering a plan to take its Hong Kong-listed property arm private, two sources told Reuters, unnerved by greater scrutiny of China listings and uncertainty over whether shareholders will approve the offer price. China’s securities regulator said on Friday it was concerned by the huge valuation gap… Read more »

China Dealbook: Starr leads $70m round in Gushengtang, Maison to exit Shanghai Guanyi

US-based Starr Companies led a $70-million funding round in traditional Chinese medicine clinic Gushengtang, while Kingdee International Software Group Co Ltd has bought tech firm Shanghai Guanyi giving way to Maison Capital’s full exit.

Hong Kong’s ‘Superman’ Li mulls plan B after O2 deal rejected

It was the second setback in the past six months for the 87-year-old Li, whose history of investment acumen prompted the Hong Kong media to give him the superhero nickname.

China: PE firm ClearVue Partners invests $30m in CHIC Fresh

CHIC Fresh uses cold-crafted technology which produces nutritious juice without using chemical preservatives.

China regulator tells some banks not to issue certain asset management products

China’s banking regulator has asked some commercial banks to suspend issuance of classified asset management products, in Beijing’s latest effort to curb financial risk amid a rising number of debt defaults this year, people with knowledge of the matter said on Wednesday. The China Banking Regulatory Commision (CBRC) transmitted the… Read more »