Mergers and acquisitions by Chinese companies in countries that are part of the Belt and Road initiative are soaring, even as Beijing cracks down on China’s acquisitive conglomerates to restrict capital outflows...
Wanda Hotel to buy $1 billion of assets from Wang-controlled businesses
Wanda Hotel Development Co Ltd (0169.HK), a unit of Chinese conglomerate Dalian Wanda Group led by Wang Jianlin, said it would buy assets worth over 7 billion yuan ($1.05 billion) from Wang-controlled companies as part...
Eros Group in talks with Apple to sell its content library of movies and music for around $1 billion
Eros Group, the largest movie producer in India, is in talks with Apple Inc, the world’s most valuable public company, to sell its entire content library of films and music for around $1 billion multiple sources...
China’s Sunac to raise $1 billion to refinance debt amid deal spree
Acquisitive Chinese property developer Sunac China Holdings Ltd (1918.HK) will raise $1 billion from banks to refinance its current debts, the firm said in a filing on Thursday. Sunac has been making a spate of high...
Siemens, Schneider Electric and Eaton Corporation join ABB in race for L&T’s electrical unit
Global industrial conglomerates Siemens, Schneider Electric and Eaton Corporation have joined ABB in the race to acquire the electrical and automation division of Larsen & Toubro, two people aware of the discussions...
China Unicom counts Alibaba, Tencent among investors in drive to raise $10 billion: sources
Chinese tech giants Alibaba Group Holdings (BABA.N) and Tencent Holdings (0700.HK) will be among new investors pouring a total of around $10 billion into mobile carrier China Unicom, sources said, part of efforts by...
Chinese firms inks deal with Adani Group, to invest $300 mn in Gujarat
India’s Adani Group inked a deal with East Hope Group, one of China’s largest companies, which will invest over $300 million to set up a manufacturing unit for solar power generation equipment in Gujarat...
The new Insolvency and Bankruptcy Code will make it impossible for Indian banks to lend with compassion
When the Reserve Bank of India dropped a bombshell on the evening of June 13, ordering banks to take the top-12 defaulters to bankruptcy courts, it also laid the foundation for changing the way Indian banks engage with...
Why India Inc is on an M&A spree, preferring inorganic growth to investing in fresh projects and capacities
VS Parthasarathy, group chief financial officer of auto and farm equipment maker Mahindra & Mahindra (M&M), recalls a conversation with a supplier a few years back that was one of the inspirations behind MSquare...
SBI’s merger could see the banking behemoth leapfrogging into the global top 50
It’s like a diet. Sometimes the simplest things are the hardest to implement,” says Arundhati Bhattacharya, chairman, State Bank of India (SBI), drawing a health analogy like the quintessential Bengali. In mid-February...
KKR to buy Hitachi unit valued at $2.3 billion
U.S. buyout firm KKR said on Wednesday it has agreed to buy Hitachi Ltd’s (6501.T) chip-making equipment and video solution unit in a deal valuing the company at 257 billion yen ($2.3 billion), its second purchase...
China’s HNA offers to buy Singapore’s CWT for $1 billion
China’s HNA Holding Group Co. said it would make an offer to acquire Singapore-listed logistics firm CWT Ltd for $1 billion. The Chinese conglomerate said in a filing to the Hong Kong Stock Exchange late on Sunday...