Three firms vie for BP’s China petrochemicals JV in a deal valued at over $2b


SK Chemicals Co Ltd, a pharmaceutical unit of South Korea’s SK Group; Austrian plastics group Borealis , owned by Abu Dhabi’s sovereign wealth fund IPIC and oil and gas company OMV ; and privately-owned Switzerland-based chemicals company Ineos are set to bid for the asset.

China to support debt-to-equity transfers for steel, coal firms

China will support asset management companies converting debt into equity stakes for steel and coal firms, and provide credit support to competitive companies with overcapacity issues, the country’s top banking regulator said. Debt has emerged as one of China‘s biggest challenges, with the total load rising to 250 percent of… Read more »

China: Huayi Brothers invests $288m for 20% stake in mobile game maker Hero Entertainment

Film company Huayi Brothers Media Corp has reportedly invested $288 million in Hero Entertainment to acquire 20 per cent stake in the mobile game maker.

Cheung Kong Property to pay $251m for Hong Kong residential site

The winning bid from a major Hong Kong developer comes after smaller players and mainland Chinese companies have been snapping up sites in the city over the past year.

China Resources Beer Holdings said to be mulling bid for $6b SABMiller units

A sale process for the assets, which include the brewer of Czech lager Pilsner Urquell, is expected to start next month after SABMiller’s deal with Anheuser-Busch InBev NV closes.

ChemChina seals combination of Israel’s Adama with Sanonda in a $2.8b deal

ChemChina is selling Israeli crop protection company Adama Agricultural Solutions to a firm it controls for $2.8 billion, paving the way for completing a previously announced combination of the two businesses and listing it on the stock market.

Alibaba payments arm Ant Financial buys US biometric startup EyeVerify for $70m

Ant Financial’s deal comes as Alibaba increases its profile in Silicon Valley with investments including Snapchat Inc., mobile search provider Quixey Inc., and ride-hailing service Lyft.

Alibaba raises stake in Chinese microblogging site Weibo to 31.5% for $135m

Chinese internet behemoth Alibaba Group Holding has acquired another three million American Depository Shares (ADS) of Weibo Corp from the company’s management team for a total of $135 million, increasing Alibaba’s stake in the Twitter-like service to 31.5 per cent from 30.1 per cent, according to a Securities and Exchange Commission (SEC) filing.

China’s Netease seeks to raise $300m from spinning off news operations, focus on gaming

The money could be raised through a U.S. initial public offering though the company may also consider a sale of the business.

Tencent-backed Chinese AI platform iCarbonX acquires Israel’s Imagu Vision Technologies

iCarbonX secured a $45-million investment led by China Bridge Capital in July, after raising $155 million in a Tencent-led series A round three months earlier. The series A investment gave iCarbonX a unicorn status.