China Vanke group seals $1.9b property deal with Blackstone, chips in $583m


Vanke is mired in a high-profile corporate power struggle. Fearing a hostile takeover bid by its biggest shareholder, Baoneng, Vanke’s management announced a $6.9 billion deal with Shenzhen Metro Group last month, which would dilute the holdings of Baoneng and China Resources.

Uber investors said to push for Didi truce in costly China fight

Several institutional investors are pushing the ride-hailing company to ink a partnership agreement with China’s market leader Didi Chuxing, stemming the billions of dollars Uber is spending to expand in the region.

Startup investing helps Alibaba expand footprint outside China

Alibaba made at least two dozen investments in private companies last year, according to research firm CB Insights. The number of deals has nearly doubled since 2013, and the e-commerce company has continued spreading money around this year.

Hillhouse-backed Beequick plans layoffs due to delay in Series D funding

In March 2015, Beequick secured a $20 million series B round led by Hillhouse Capital, followed by a $70 million series C round in September from Tiantu Capital, Hillhouse Capital, and Sequoia Capital.

APAC leads in cross-border IPOs for H1 2016 despite slower deal flow in China

Baker & McKenzie noted in a report that Asia Pacific continues to be highest among the regions despite a decline to 41.2 in its IPO index, which has shown a level of stability across the last five years.

Protean Electric raises $70m from Chinese PE Go Scale, VIE, Tianjin

Chinese private equity Go Scale Capital, Zhejiang VIE Science & Technology and Tianjin THSG Corporation have led a $70-million equity financing round in the leading in-wheel electric drive systems developer Protean Electric.

China Film plans to raise $612m in Shanghai IPO

China Film Co Ltd, the country’s biggest film distributor, aims to raise $612 million in an initial public offering, in what would be the largest in the nation’s cinema business.

Venture capital funding in China drops to three-year low at $400m in Q2

Years of red-hot economic growth and the emergence of a private entrepreneurial class created some of the biggest names in technology, from Didi Chuxing to the company behind DJI drones. But startups hoping to follow in their footsteps are hurting as the economy sputters

Credit Suisse beefs up i-banking team in China, taps JP Morgan’s Patrick No

Credit Suisse has further strengthened its Investment Banking and Capital Markets (IBCM) team in China by hiring Patrick No as head of the division’s Financial Sponsors Coverage.

Elliott ramps up pressure on Bank of East Asia in lawsuit

Billionaire Paul Singer’s Elliott Management escalated its battle against  Bank of East Asia Ltd., asking a Hong Kong court to declare that the bank acted improperly when issuing shares that diluted minority shareholders and allegedly entrenched management control. The petition alleges “unfairly prejudicial conduct” by directors and “serious corporate governance… Read more »