Chinese backer of House of Fraser to sell majority stake in department store chain


Nanjing Xinjiekou Department Store Co. will sell its 51 per cent holding to a tourism development company named Wuji Wenhua.

Clause absolving legal action against Noble Group raises concerns

Noble’s debt restructuring plan already faces opposition from a group of junior noteholders and Goldilocks Investment Co., its fifth largest shareholder.

China’s YY Inc live game streaming unit Huya files for US IPO

In May last year, Huya raised $75 million in Series A funding led by Hong Kong-based Ping An Insurance Overseas.

Daimler says Chinese partner BAIC key to any future deals with Geely

Cooperation will require a tightrope act to keep Daimler’s existing Chinese partners, BAIC Motor Corp. and BYD Co., on board.

Chinese genetic testing startup 23Mofang raises $15.8m in Matrix Partners-led round

The funding round was joined by return backers Hanwang Technology, Yahui Medical Fund, and Chengdu Deshang Qidian Equity Investment Fund.

China’s HNA seeks to list Swiss airline caterer Gategroup to ease liquidity crunch

HNA will raise money by selling a 65 percent stake.

Mercedes-Benz dealer Lei Shing Hong to relist in HK to raise $800m

The Hong Kong-based company is working with investment banks on the planned share sale.

People: HarbourVest elevates Burges as MD; Augentius gets new Asia head

HarbourVest has announced promotions that include six MDs, six Principals and four Senior Vice Presidents.

IDG-backed Chinese startup Kr Space raises $94.6m in latest round

In January, Kr Space raised $92 million in a pre-Series B funding round joined by return backer IDG Capital

Advisors back Yue Yuen’s disposal of stake in HK-listed sportswear firm Pou Sheng

Yue Yuen was offered HK$6.8 billion, or a cancellation price of HK$2.03 per share, to sell its stake in Pou Sheng to Pou Chen.