By Chalida Ekvitthayavechnukul
According to the Frost & Sullivan report, it is the largest online English education platform in China as measured by gross billings and the number of available foreign teachers in 2015.
Fosun, one of China’s most globally recognised conglomerates, and several other suitors are preparing to submit second round bids for the holding company of Asia Capital Reinsurance Group which has operations in the Middle East, China and Japan.
Alibaba’s cloud unit almost tripled revenue to more than 1 billion yuan ($153 million) in the March quarter. The business could account for more than $1 billion of Alibaba’s revenue by 2018 and the public cloud presents a $120 billion global market opportunity.
China Music Corp. (CMC) is targeting to list on the NASDAQ before the end of 2016, in a deal which could see their IPO raise between $300 million and $600 million in proceeds.
Didi Chuxing, formerly known as Didi Kuaidi, said, the funding from Apple was the single largest investment it has ever received. The company, which previously raised several billion dollars, dominates the ride-sharing market in China.
Wanda Cinema, whose parent Dalian Wanda Group acquired U.S. film studio Legendary Entertainment in January for about $3.5 billion, said it now aims to acquire Wanda Media, the current owner of Legendary Pictures.
Mattson stockholders will receive about $300m in cash – an offer price 55% higher than the stock’s 30-day avg closing price in Nov’15 when the acquisition was first announced.
Chinese video chatting startup ChatGame, has raised $14 million funding from angel investors, which it plans to use to improve its video chatting experience. ChatGame offers facial beautification features and avatars and has also introduced a new group video chat. ChatGame’s newest feature allows up to six users to hold a video… Read more »
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.
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 »