By Adam Jourdan
Xu’s reported $43 billion wealth – a gain of around $30 billion against last year – comes on the back of a surge in Evergrande’s shares
It is the second-most expensive real estate deal in Asia this year, after CapitaLand’s Blackrock asset purchase.
MMG may look more towards partnering other companies on the assets it wants to acquire, rather than going for acquisitions paid fully in cash.
China Insurance Regulatory Commission told HNA’s Bohai Life Insurance to stop some direct and indirect transactions.
Lotte decided to bow out of the business after most of its hypermarkets and supermarkets in China were shut down amid political tensions.
Chow had joined the bank in 1998 as a managing director, Equity Capital Markets.
The latest Orchid Asia fund expects to make equity investments of $20-150 million.
The new alliance, called Shandong Refining & Chemical Group, gathers six independent oil processors and a provincial government-backed fund as investors.
This will be BMW’s second JV in China. It has a joint venture with local carmaker Brilliance China Automotive Holdings.
Huishoubao raised $15 million in Series A round led by Shanghai-headquartered investment firm Chengwei Capital last year.