China Three Gorges offers $10.9b to buy rest of Portugal’s EDP


China Three Gorges had bought a 21% stake in EDP more than five years ago as part of a Portuguese government bailout involving the International Monetary Fund.

Louis Dreyfus completes $466m sale of metals unit to Chinese fund

The metals business is one of the largest copper, zinc and lead concentrates merchants worldwide, according to Louis Dreyfus, and has been one of the group’s most profitable activities in recent years.

Carlyle, CPPIB said to be latest backers of Ant Financial’s $10b funding

Warburg Pincus and Temasek are also joining the round, which would make Ant the world’s largest fintech firm.

China’s Fosun Pharma in the running for $2b Novartis assets

Apollo Global Management LLC, CVC Capital Partners and Indian drugmaker Aurobindo Pharma Ltd. have also been picked to make final offers.

Logistics major GLP announces launch of $1.6b debut PE fund

Hidden Hill Modern Logistics Private Equity Fund will invest in companies focusing on developing logistics technologies.

Hong Kong-based Jeneration Capital raising new $800m fund

The fund will mostly target consumer technology startups with an expected close over the coming months.

China’s Geely said to pick Citi, others for Volvo Cars IPO

China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in a range of $16 billion to $30 billion in a stock sale.

China’s apartment rental firm Uoko raises $157m Series C1

The round was joined by Shenzhen Venture Capital, Greentown Service Group, Galaxy Holdings and existing investors Legend Capital, Matrix Partners China and SIG.

Li Ka-shing steps down, bringing nearly 7-decade career to an end

Li’s career began in 1950 as a plastic-flowers manufacturer, which he then transformed into a global conglomerate.

US-based Stealth BioTherapeutics eyes Hong Kong IPO this year

Hong Kong now accepts applications from firms with different share classes as well as from unprofitable biotech businesses, a revision intended to attract earlier-stage developers like Stealth.