Qihoo 360

Qihoo buyer group said to hit impasse with Chinese FX regulator


The Qihoo 360 Technology Co. buyout consortium, seeking to take the Chinese company private in a $9.3 billion deal, has hit an impasse with the nation’s foreign-exchange supervisor as the regulator scrutinizes the deal, people with knowledge of the matter said. China’s State Administration of Foreign Exchange, whose approval is… Read more »

Western Digital acquisition of China’s Sandisk approved

Western Digital is acquiring and merging with Sandisk in a strategic acquisition that will see it expand its Asia Pacific presence and tap onto the demand from Asian growth markets.

China’s Wanda Group reconsiders de-listing property unit

Dalian Wanda Group is reconsidering a plan to take its Hong Kong-listed property arm private, two sources told Reuters, unnerved by greater scrutiny of China listings and uncertainty over whether shareholders will approve the offer price. China’s securities regulator said on Friday it was concerned by the huge valuation gap… Read more »

China Dealbook: Starr leads $70m round in Gushengtang, Maison to exit Shanghai Guanyi

US-based Starr Companies led a $70-million funding round in traditional Chinese medicine clinic Gushengtang, while Kingdee International Software Group Co Ltd has bought tech firm Shanghai Guanyi giving way to Maison Capital’s full exit.

Hong Kong’s ‘Superman’ Li mulls plan B after O2 deal rejected

It was the second setback in the past six months for the 87-year-old Li, whose history of investment acumen prompted the Hong Kong media to give him the superhero nickname.

China: PE firm ClearVue Partners invests $30m in CHIC Fresh

CHIC Fresh uses cold-crafted technology which produces nutritious juice without using chemical preservatives.

China regulator tells some banks not to issue certain asset management products

China’s banking regulator has asked some commercial banks to suspend issuance of classified asset management products, in Beijing’s latest effort to curb financial risk amid a rising number of debt defaults this year, people with knowledge of the matter said on Wednesday. The China Banking Regulatory Commision (CBRC) transmitted the… Read more »

China: Alibaba Pictures Group invests $154m in Dadi Cinema Construction via convertible bonds

Alibaba Pictures Group, the movies division of Chinese e-commerce giant Alibaba, has committed to an investment of RMB1 billion ( $154 million) in convertible bonds issued by movie exhibitor Guangdong Dadi Cinema Construction. The move marks Alibaba Pictures’ foray into the Chinese cinema industry, the company said in an announcement.  If fully converted, the film… Read more »

Hong Kong’s Bluesky in deal to buy InnVest for $1.6b

The deal will give Bluesky one of Canada’s largest hotel portfolios with 109 properties, including a stake in Toronto’s Fairmont Royal York Hotel, which was built in 1929 and host to British royalty.

China Cinda Asset Management plans preference share issue of up to 30b yuan

China Cinda Asset Management Co Ltd, one of the country’s four state-backed bad debt managers, plans to issue offshore preference shares worth up to 30 billion yuan ($4.6 billion) to shore up its capital.