GE to sell appliances business to China’s Haier for $5.4b


GE said the deal values the appliance business at 10 times last 12 months EBITA

Asian focussed PE firms Mandarin Capital, Abax Global raise new funds

Sino-European firm Mandarin Capital Partners raised just under €200 million, while Abax Global Capital, has raised $235 million.

Hong Kong launches $256m tech fund for startups

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 registers ocean freight forwarder, expanding logistics reach to ocean shipping 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 »

China’s new rules for botched initial public offerings rattling underwriters

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 receives nearly $2b investment from Chinese firms

Uber’s main global entity received the rest of the money, though the company did not specify how much each unit got.

China’s gaming billionaire picks 60% stake in US gay dating app Grindr for $93m

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 »

Wanda in Hollywood: China’s richest man buys film studio Legendary for $3.5b

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 »

6 more foreign institutions, including India’s RBI allowed in China’s interbank FX market

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’s China unit attracts investment from HNA Group

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 »