By Ankit Ajmera
GE said the deal values the appliance business at 10 times last 12 months EBITA
Sino-European firm Mandarin Capital Partners raised just under €200 million, while Abax Global Capital, has raised $235 million.
Hong Kong’s government has launched an innovation and venture fund that will invest in startups, as well as encourage institutional investors to invest in Hong Kong-based technology startups.
Amazon.com Inc‘s China arm has registered as an ocean freight forwarder, according to the U.S. Federal Maritime Commission, a move that will give it more control over shipping products from Chinese factories to U.S. shoppers. The registration is the latest indication that Amazon plans to expand its logistics reach to… Read more »
Newly approved Chinese rules for IPOs are rattling investment banks as investors can seek compensation immediately if they suffer losses due to false or misleading information in the listing material, bankers and lawyers have told Reuters. Previously, disgruntled investors could only file claims for a botched IPO after China’s securities… Read more »
Uber’s main global entity received the rest of the money, though the company did not specify how much each unit got.
One of China’s newly minted technology billionaires signed a deal to buy a controlling stake in Grindr, the world’s biggest gay social-networking app. Beijing Kunlun Tech Co., an Internet games company that helped introduce Angry Birds to China, offered $93 million in cash for 60 percent of New Grindr LLC,… Read more »
Chinese conglomerate Dalian Wanda Group has bought U.S. film studio Legendary Entertainment for about $3.5 billion, turning its chairman into a Hollywood movie mogul as China’s richest man steps up a drive to diversify his business empire overseas. At a news conference in Beijing on Tuesday, Wanda Chairman Wang Jianlin… Read more »
China has allowed a second batch of foreign institutions to enter China’s interbank foreign exchange market, the country’s central bank said on Tuesday. Six central banks and international financial institutions, including Reserve Bank of India (RBI), Monetary Authority of Singapore and Bank of International Settlements, are now allowed to trade… Read more »
Uber Technologies Inc said on Monday its China unit will get an undisclosed amount of investment from Chinese firm HNA Group as part of a new partnership with the aviation and shipping conglomerate, giving the U.S. ride-hailing firm fresh cash as it competes with larger domestic rival Didi Kuaidi. In… Read more »