KediKesenFare3
MEMBER
- Joined
- Apr 14, 2015
- Messages
- 4,264
- Reaction score
- 12
- Country
- Location
Lexmark still exists? 
My first printer was produced by Lexmark.
My first printer was produced by Lexmark.
China Global M&A Push, 2005 ~ Nowadays
- Thread starter cirr
- Start date
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
Excellent, this kind of M&A is the one of few types I like i.e. horizontal expansion.
Ultimate Weapon
FULL MEMBER
- Joined
- May 9, 2006
- Messages
- 192
- Reaction score
- 0
- Country
- Location
Now that's called the global invasion. 
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
Chint promotes M&A strategy
2016-12-12 10:26 China Daily
An engineer monitors the automated production line at Chint Group's photovoltaic components factory
in Hangzhou, Zhejiang province. (Photo/Xinhua)
Company rides explosive growth in international business to expand beyond electrical equipment
The Zhejiang-based Chint Group, China's leading industrial electrical equipment and new energy enterprise in the private sector, is pushing forward its overseas mergers and acquisitions. At the same time, it is forging cooperation agreements on production capacity and equipment manufacturing along the Belt and Road Initiative.
Founded in 1984, Chint Group has seen its businesses expand over the years, from electrical equipment to power transmission and distribution equipment and services, instruments and meters, building appliances, photo-voltaic power generation and equipment manufacture.
In October, the company signed a comprehensive strategic cooperation agreement with Veolia, the world's largest environmental services provider, covering almost all of Chint's industrial chain across new energy, power transmission and distribution.
Chint's international business has seen explosive growth for a year, especially in the field of new energy. For instance, Chint's solar components factory in Malaysia started mass production in January. It is the company's third components factory after those in China and Germany.
In March, Chint completed two PV power plant projects in Thailand. It also drew up a plan to build one more components factory in the country to expand its business.
So far, Chint has established factories, R&D centers and marketing branches in about 80 countries in Europe, North America, Russia, South America, the Middle East and the Asia-Pacific region. It constructed more than 30 overseas ground PV power plants, and sold its products to over 130 countries and regions.
Its PV business grew by 80 percent last year; its power electronics products sector in the North American market grew by 168 percent; and the domestic and overseas general contract business grew by 425 percent.
According to Nan, Chint's chairman, the company has benefited from its acquisition of Conergy, a German PV company. At the time, the latter was on the verge of bankruptcy. Chint acquired its components factory in 2014.
To meet the needs of domestic and overseas markets, Chint Group funneled 3 to 10 percent of its sales revenues into R&D each year. In its high-end equipment sector, the R&D investment reached 50 percent of its sales revenues.
Last year, Chint launched China's largest PV power plant project, a 2 billion yuan ($294 million) 200-MW light project to complement local agriculture, at a mountainous area in rural Quzhou, Zhejiang province.
http://www.ecns.cn/business/2016/12-12/237342.shtml
2016-12-12 10:26 China Daily
An engineer monitors the automated production line at Chint Group's photovoltaic components factory
in Hangzhou, Zhejiang province. (Photo/Xinhua)
Company rides explosive growth in international business to expand beyond electrical equipment
The Zhejiang-based Chint Group, China's leading industrial electrical equipment and new energy enterprise in the private sector, is pushing forward its overseas mergers and acquisitions. At the same time, it is forging cooperation agreements on production capacity and equipment manufacturing along the Belt and Road Initiative.
"We are going to do more acquisitions to complete a whole industrial chain," said Nan Cunhui, chairman and founder of Chint Group.
Founded in 1984, Chint Group has seen its businesses expand over the years, from electrical equipment to power transmission and distribution equipment and services, instruments and meters, building appliances, photo-voltaic power generation and equipment manufacture.
In October, the company signed a comprehensive strategic cooperation agreement with Veolia, the world's largest environmental services provider, covering almost all of Chint's industrial chain across new energy, power transmission and distribution.
Chint's international business has seen explosive growth for a year, especially in the field of new energy. For instance, Chint's solar components factory in Malaysia started mass production in January. It is the company's third components factory after those in China and Germany.
In March, Chint completed two PV power plant projects in Thailand. It also drew up a plan to build one more components factory in the country to expand its business.
So far, Chint has established factories, R&D centers and marketing branches in about 80 countries in Europe, North America, Russia, South America, the Middle East and the Asia-Pacific region. It constructed more than 30 overseas ground PV power plants, and sold its products to over 130 countries and regions.
Its PV business grew by 80 percent last year; its power electronics products sector in the North American market grew by 168 percent; and the domestic and overseas general contract business grew by 425 percent.
According to Nan, Chint's chairman, the company has benefited from its acquisition of Conergy, a German PV company. At the time, the latter was on the verge of bankruptcy. Chint acquired its components factory in 2014.
"We had a very efficient circulation network. We sold the products from our German factory to the Asian market. The factory runs well now," said Nan.
To meet the needs of domestic and overseas markets, Chint Group funneled 3 to 10 percent of its sales revenues into R&D each year. In its high-end equipment sector, the R&D investment reached 50 percent of its sales revenues.
Last year, Chint launched China's largest PV power plant project, a 2 billion yuan ($294 million) 200-MW light project to complement local agriculture, at a mountainous area in rural Quzhou, Zhejiang province.
http://www.ecns.cn/business/2016/12-12/237342.shtml
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
Luye Pharma Announces the Completion of Acquisition of Acino's Transdermal Drug Delivery Systems Business
December 1, 2016
HONG KONG, Dec. 1, 2016 /PRNewswire/ -- Luye Pharma Group Ltd. (2186.HK) is pleased to announce the completion of its acquisition of the transdermal drug delivery systems (TDS) business from Swiss company, Acino. The acquired business is a global leader in niche transdermal markets and will greatly enhance Luye's developmental efforts in R&D, manufacturing, international registration, and market promotion of new formulation products to international standards, thereby helping to pave the way for Luye's expansion into global markets.
The acquired business is one of the largest independent TDS manufacturers in Europe, with a product portfolio primarily focused on more sophisticated and higher margin specialty patch categories such as CNS, pain and hormone spaces under several successfully commercialised and hard-to-make formulations such as Rivastigmine, Buprenorphine, Fentanyl and fertility control patches.
The completion of the acquisition is extremely encouraging for Luye Pharma, as it fully represents the core of Luye Pharma's globalization strategy -- leveraging on M&A, R&D, brand marketing and world-class quality control capabilities to keep pace with development within both Chinese domestic and global markets. Luye Pharma's future on the road towards globalization and into broader markets will be accelerated. The company will also continue to serve and promote human health through professional technology, working to develop Luye Pharma into one of the most respected leading global pharmaceutical enterprises in the world.
The global market sales of transdermal patches reached over 5 billion Euros in 2014, and is expected to hit 6.4 billion Euros by 2020, with a projected compound annual growth rate greater than 4%1. The global market for TDS business is huge with strong growth potential. An ageing population will be accompanied by a similar increasing trend in chronic diseases, which is a key application area for TDS treatments. In emerging markets like China, there are currently 260 million2 people suffering from chronic diseases, and presents a substantial market for TDS business. Moving forward, Luye Pharma will explore new market expansion opportunities for the TDS business by fully leveraging its experience and expertise in the Chinese market.
At the same time, Luye Pharma will continue to learn and adopt practices from the integration of its acquired business. With its mature sales network and international presence in many developed markets around the world -- especially the European region -- this will help Luye Pharma in the market launch of more innovative products in the future. In addition, the TDS business, with its advanced R&D systems and high quality factories with an EU GMP certificate and certification from the U.S. FDA, will greatly help Luye Pharma in the constant pursuit of meeting and exceeding international standards in production, quality control and global operations.
Luye Pharma Group Ltd. focuses on developing, producing, marketing and selling innovative pharmaceutical products in four of the largest and fastest-growing therapeutic areas -- oncology, cardiovascular, metabolism and the central nervous system. The Group has a portfolio of 30 products in the market and 21 product candidates in China and 7 product candidates overseas, among which 5 candidates have entered into the clinical trial stage in the United States under U.S. FDA rules.
The Group has established production facilities and research and development centers in China as well as offices in the U.S., Malaysia and Singapore with over 3,400 employees, including over 300 R&D personnel. The Group's products are marketed and sold in a vast majority of provinces, autonomous regions and municipalities in the PRC, as well as a number of foreign countries and regions.
http://finance.yahoo.com/news/luye-pharma-announces-completion-acquisition-090800912.html
December 1, 2016
HONG KONG, Dec. 1, 2016 /PRNewswire/ -- Luye Pharma Group Ltd. (2186.HK) is pleased to announce the completion of its acquisition of the transdermal drug delivery systems (TDS) business from Swiss company, Acino. The acquired business is a global leader in niche transdermal markets and will greatly enhance Luye's developmental efforts in R&D, manufacturing, international registration, and market promotion of new formulation products to international standards, thereby helping to pave the way for Luye's expansion into global markets.
The acquired business is one of the largest independent TDS manufacturers in Europe, with a product portfolio primarily focused on more sophisticated and higher margin specialty patch categories such as CNS, pain and hormone spaces under several successfully commercialised and hard-to-make formulations such as Rivastigmine, Buprenorphine, Fentanyl and fertility control patches.
The completion of the acquisition is extremely encouraging for Luye Pharma, as it fully represents the core of Luye Pharma's globalization strategy -- leveraging on M&A, R&D, brand marketing and world-class quality control capabilities to keep pace with development within both Chinese domestic and global markets. Luye Pharma's future on the road towards globalization and into broader markets will be accelerated. The company will also continue to serve and promote human health through professional technology, working to develop Luye Pharma into one of the most respected leading global pharmaceutical enterprises in the world.
The global market sales of transdermal patches reached over 5 billion Euros in 2014, and is expected to hit 6.4 billion Euros by 2020, with a projected compound annual growth rate greater than 4%1. The global market for TDS business is huge with strong growth potential. An ageing population will be accompanied by a similar increasing trend in chronic diseases, which is a key application area for TDS treatments. In emerging markets like China, there are currently 260 million2 people suffering from chronic diseases, and presents a substantial market for TDS business. Moving forward, Luye Pharma will explore new market expansion opportunities for the TDS business by fully leveraging its experience and expertise in the Chinese market.
At the same time, Luye Pharma will continue to learn and adopt practices from the integration of its acquired business. With its mature sales network and international presence in many developed markets around the world -- especially the European region -- this will help Luye Pharma in the market launch of more innovative products in the future. In addition, the TDS business, with its advanced R&D systems and high quality factories with an EU GMP certificate and certification from the U.S. FDA, will greatly help Luye Pharma in the constant pursuit of meeting and exceeding international standards in production, quality control and global operations.
Luye Pharma Group Ltd. focuses on developing, producing, marketing and selling innovative pharmaceutical products in four of the largest and fastest-growing therapeutic areas -- oncology, cardiovascular, metabolism and the central nervous system. The Group has a portfolio of 30 products in the market and 21 product candidates in China and 7 product candidates overseas, among which 5 candidates have entered into the clinical trial stage in the United States under U.S. FDA rules.
The Group has established production facilities and research and development centers in China as well as offices in the U.S., Malaysia and Singapore with over 3,400 employees, including over 300 R&D personnel. The Group's products are marketed and sold in a vast majority of provinces, autonomous regions and municipalities in the PRC, as well as a number of foreign countries and regions.
http://finance.yahoo.com/news/luye-pharma-announces-completion-acquisition-090800912.html
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
China clears key hurdle to buy Chicago Stock Exchange
by Matt Egan @mattmegan5 December 14, 2016: 5:59 PM ET
China just moved a step closer to acquiring one of America's oldest stock exchanges, despite security concerns raised by some in Congress.
This week a U.S. panel that examines foreign deals for potential national security concerns cleared the purchase of the 134-year-old Chicago Stock Exchange by a China-led group of investors.
The Chicago Stock Exchange said the Committee on Foreign Investment in the United States (CFIUS) decided there are "no unresolved national security concerns" over the deal, which was first announced in February.
Representatives for CFIUS did not respond to a request for comment on the news, which was first reported by Reuters.
The acquisition by China's Chongqing Casin Enterprise Group still faces SEC approval. If cleared, the deal would give China a foothold in the vast American stock market, the largest in the world.
The struggling Chicago Stock Exchange is far smaller than the Nasdaq (NDAQ) and the iconic New York Stock Exchange. Earlier this year it accounted for just 0.5% of U.S. trading.
Still, some lawmakers raised security concerns about Chinese investors buying into the U.S. equity market.
Dozens of members of Congress wrote a letter in February urging the deal receive tough scrutiny and get blocked if the buyer had close ties to the Chinese government.
The Chicago Stock Exchange transaction was proposed during a different atmosphere.
Since then, President-elect Donald Trump and China have clashed over the U.S. position that Taiwan is part of "one China." Beijing has said it is "seriously concerned" by Trump questioning this long-standing policy. Trump has also accused China of devaluing its currency, even though Beijing is spending heavily to keep the yuan from falling too quickly.
Trump was very critical of China's trade tactics during the presidential campaign, threatening to slap a 45% tax on Chinese goods coming into the U.S.
If the Chicago Stock Exchange deal is cleared, it won't be the first instance of foreign ties to a U.S. exchange. In 2007, Nasdaq merged with OMX, a Nordic exchange, becoming Nasdaq OMX Group. The exchange has since changed its name back to Nasdaq.
The Chicago Stock Exchange is minority controlled by a group that includes Bank of America (BAC), E*Trade (ETFC), Goldman Sachs (GS) and JPMorgan Chase (JPM).
http://money.cnn.com/2016/12/14/inv...-stock-exchange-security-clearance/index.html
by Matt Egan @mattmegan5 December 14, 2016: 5:59 PM ET
China just moved a step closer to acquiring one of America's oldest stock exchanges, despite security concerns raised by some in Congress.
This week a U.S. panel that examines foreign deals for potential national security concerns cleared the purchase of the 134-year-old Chicago Stock Exchange by a China-led group of investors.
The Chicago Stock Exchange said the Committee on Foreign Investment in the United States (CFIUS) decided there are "no unresolved national security concerns" over the deal, which was first announced in February.
Representatives for CFIUS did not respond to a request for comment on the news, which was first reported by Reuters.
The acquisition by China's Chongqing Casin Enterprise Group still faces SEC approval. If cleared, the deal would give China a foothold in the vast American stock market, the largest in the world.
The struggling Chicago Stock Exchange is far smaller than the Nasdaq (NDAQ) and the iconic New York Stock Exchange. Earlier this year it accounted for just 0.5% of U.S. trading.
Still, some lawmakers raised security concerns about Chinese investors buying into the U.S. equity market.
Dozens of members of Congress wrote a letter in February urging the deal receive tough scrutiny and get blocked if the buyer had close ties to the Chinese government.
The Chicago Stock Exchange transaction was proposed during a different atmosphere.
Since then, President-elect Donald Trump and China have clashed over the U.S. position that Taiwan is part of "one China." Beijing has said it is "seriously concerned" by Trump questioning this long-standing policy. Trump has also accused China of devaluing its currency, even though Beijing is spending heavily to keep the yuan from falling too quickly.
Trump was very critical of China's trade tactics during the presidential campaign, threatening to slap a 45% tax on Chinese goods coming into the U.S.
If the Chicago Stock Exchange deal is cleared, it won't be the first instance of foreign ties to a U.S. exchange. In 2007, Nasdaq merged with OMX, a Nordic exchange, becoming Nasdaq OMX Group. The exchange has since changed its name back to Nasdaq.
The Chicago Stock Exchange is minority controlled by a group that includes Bank of America (BAC), E*Trade (ETFC), Goldman Sachs (GS) and JPMorgan Chase (JPM).
http://money.cnn.com/2016/12/14/inv...-stock-exchange-security-clearance/index.html
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
China's HNA Completes Acquisition of Carlson Hotels
Hotel & Resort | Radisson Blu Hotels & Resorts | Patrick Clarke | December 08, 2016
China's HNA Tourism Group has completed its acquisition of Carlson Hotels it announced Wednesday.
This past April, both companies confirmed they had reached a deal for HNA to purchase 100 percent of the Minnesota-based company.
In addition to the acquisition of Carlson's Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson and Country Inns & Suites by Carlson brands, the purchase includes a 51.3 percent majority stake in Carlson's Rezidor Hotel Group AB.
The value of the deal wasn't disclosed. However sources close to the situation told Bloomberg earlier this year that a potential sale of Carlson could be worth as much as $2 billion.
HNA now has until January 4, 2017 to either launch a mandatory tender offer for the remaining outstanding shares in Rezidor or sell down its ownership to below 30 percent.
"HNA has been very clear throughout process they want to be a leading global hotel company and understand they need to invest in infrastructure and also recognize from time to time they need to put their balance sheet to work owning assets," Carlson Hospitality Group CEO David Berg told Hotelsmag.com earlier this year.
Looking ahead, the new ownership appears poised to grow Carlson's brands in key markets.
"As I think about key gateways in Asia Pacific that is something we haven’t been able or willing to do given our capital light model, and now we have some opportunities with HNA," added Berg. "The new and significant infrastructure gives us a platform to think about other opportunities to add into the fold."
It's expected that Carlson will remain based in Minnetonka, Minnesota and Berg will stay on as CEO.
http://www.travelpulse.com/news/hot...-completes-acquisition-of-carlson-hotels.html
Hotel & Resort | Radisson Blu Hotels & Resorts | Patrick Clarke | December 08, 2016
China's HNA Tourism Group has completed its acquisition of Carlson Hotels it announced Wednesday.
This past April, both companies confirmed they had reached a deal for HNA to purchase 100 percent of the Minnesota-based company.
In addition to the acquisition of Carlson's Quorvus Collection, Radisson Blu, Radisson, Radisson Red, Park Plaza, Park Inn by Radisson and Country Inns & Suites by Carlson brands, the purchase includes a 51.3 percent majority stake in Carlson's Rezidor Hotel Group AB.
The value of the deal wasn't disclosed. However sources close to the situation told Bloomberg earlier this year that a potential sale of Carlson could be worth as much as $2 billion.
HNA now has until January 4, 2017 to either launch a mandatory tender offer for the remaining outstanding shares in Rezidor or sell down its ownership to below 30 percent.
"HNA has been very clear throughout process they want to be a leading global hotel company and understand they need to invest in infrastructure and also recognize from time to time they need to put their balance sheet to work owning assets," Carlson Hospitality Group CEO David Berg told Hotelsmag.com earlier this year.
Looking ahead, the new ownership appears poised to grow Carlson's brands in key markets.
"As I think about key gateways in Asia Pacific that is something we haven’t been able or willing to do given our capital light model, and now we have some opportunities with HNA," added Berg. "The new and significant infrastructure gives us a platform to think about other opportunities to add into the fold."
It's expected that Carlson will remain based in Minnetonka, Minnesota and Berg will stay on as CEO.
http://www.travelpulse.com/news/hot...-completes-acquisition-of-carlson-hotels.html
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
Sinopec: Acquisition Of Gulf Keystone Petroleum Underway
The Chinese are under discussions with the advisors for the acquisition of Kurdish energy company
Published By: Myrna Salomon on December 14, 2016 01:52 pm EST
With the recent OPEC meeting raising a positive sentiment in the energy market and both West Texas Intermediate and Brent crude currently trading above $60 per barrel, oil and gas companies are continuously ramping up production levels and gearing up for takeovers. Similar is the case with the largest refiner globally, China Petroleum & Chemical Corp. which is mulling over the acquisition of Gulf Keystone Petroleum Ltd. According to sources close to the matter, Sinopec is in discussions with the advisors for the acquisition of Kurdish energy producer. More so, several bidders may find the takeover attractive.
For instance, DNO ASA, is another oil explorer that offered around $300 million for Keystone in July. However, Gulf Keystone stayed away from having any talks with DNO and instead focused on restructuring.
As for the present deal, nothing has been finalized yet. Sinopec has had a history of procuring properties abroad. The company is considering the buyout of other overseas properties at present as well. It has earlier closed its old and cost intensive facilities in an attempt to navigate through the economic slowdown in energy prices.
Stock price of Gulf Keystone increased by 13% at the London Stock Exchange after the market opened on Tuesday, providing the company with a market value of $416.7 million. Previously, the stock price soared by as high as 16%, the highest jump since October.
Operating in Iraq, which happens to be the key player of oil exporters group OPEC, the Gulf Keystone was taken over by creditors as the company failed to make a bond payment forcing the company for debt restructuring. The company has also suffered with the plunging crude oil environment and has thus struggled to take payments from the Kurdish government amid its war with Islamic militants.
http://www.thecountrycaller.com/77484-sinopec-acquisition-of-gulf-keystone-petroleum-underway/
The Chinese are under discussions with the advisors for the acquisition of Kurdish energy company
Published By: Myrna Salomon on December 14, 2016 01:52 pm EST
With the recent OPEC meeting raising a positive sentiment in the energy market and both West Texas Intermediate and Brent crude currently trading above $60 per barrel, oil and gas companies are continuously ramping up production levels and gearing up for takeovers. Similar is the case with the largest refiner globally, China Petroleum & Chemical Corp. which is mulling over the acquisition of Gulf Keystone Petroleum Ltd. According to sources close to the matter, Sinopec is in discussions with the advisors for the acquisition of Kurdish energy producer. More so, several bidders may find the takeover attractive.
For instance, DNO ASA, is another oil explorer that offered around $300 million for Keystone in July. However, Gulf Keystone stayed away from having any talks with DNO and instead focused on restructuring.
As for the present deal, nothing has been finalized yet. Sinopec has had a history of procuring properties abroad. The company is considering the buyout of other overseas properties at present as well. It has earlier closed its old and cost intensive facilities in an attempt to navigate through the economic slowdown in energy prices.
Stock price of Gulf Keystone increased by 13% at the London Stock Exchange after the market opened on Tuesday, providing the company with a market value of $416.7 million. Previously, the stock price soared by as high as 16%, the highest jump since October.
Operating in Iraq, which happens to be the key player of oil exporters group OPEC, the Gulf Keystone was taken over by creditors as the company failed to make a bond payment forcing the company for debt restructuring. The company has also suffered with the plunging crude oil environment and has thus struggled to take payments from the Kurdish government amid its war with Islamic militants.
http://www.thecountrycaller.com/77484-sinopec-acquisition-of-gulf-keystone-petroleum-underway/
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
Sinopec soars on acquisition speculation
Stocks jump after Bloomberg reports possible Gulf Keystone acquisition
December 14, 2016 3:45 pm JST
NORIKO OKEMOTO, NQN staff writer
An employee works at an oil fields in the semi-autonomous Kurdish region in northern Iraq. © AP
HONG KONG -- China Petroleum & Chemical (Sinopec), on Wednesday extended its gaining streak for a third session to 5.970 Hong Kong dollars, up HK$0.350, or 6.2%, on the Hong Kong stock exchange on speculation that it may acquire the U.K.'s Gulf Keystone Petroleum.
The share price approached the year-to-date high marked on Oct. 11. On the Shanghai Stock Exchange, the stock reached a new year-to-date high for the first time since Dec.2.
On Tuesday, Bloomberg reported that Sinopec is weighing up a takeover of the British oil and gas exploration and production company, which operates in the Kurdish region of Iraq.
According to the report, Sinopec is currently in talks over the deal with Gulf Keystone.
Although the company has managed to produce oil in the area, the company is now in financial difficulties due to the region's political instability and other factors. Sinopec is believed to have expressed a willingness to reduce the risk of import oil price volatility.
Bloomberg also reported that Sinopec is reviving an initial public offering for its retail arm that could raise up to $10 billion.
Other Chinese oil stocks such as PetroChina and CNOOC also surged on the Hong Kong stock exchange on Wednesday morning.
The increase followed a report on the online edition of Chinese newspaper Beijing Times claiming a massive hike in gasoline prices in China is expected to be announced in the near future.
http://asia.nikkei.com/Business/AC/Sinopec-soars-on-acquisition-speculation
Stocks jump after Bloomberg reports possible Gulf Keystone acquisition
December 14, 2016 3:45 pm JST
NORIKO OKEMOTO, NQN staff writer
An employee works at an oil fields in the semi-autonomous Kurdish region in northern Iraq. © AP
HONG KONG -- China Petroleum & Chemical (Sinopec), on Wednesday extended its gaining streak for a third session to 5.970 Hong Kong dollars, up HK$0.350, or 6.2%, on the Hong Kong stock exchange on speculation that it may acquire the U.K.'s Gulf Keystone Petroleum.
The share price approached the year-to-date high marked on Oct. 11. On the Shanghai Stock Exchange, the stock reached a new year-to-date high for the first time since Dec.2.
On Tuesday, Bloomberg reported that Sinopec is weighing up a takeover of the British oil and gas exploration and production company, which operates in the Kurdish region of Iraq.
According to the report, Sinopec is currently in talks over the deal with Gulf Keystone.
Although the company has managed to produce oil in the area, the company is now in financial difficulties due to the region's political instability and other factors. Sinopec is believed to have expressed a willingness to reduce the risk of import oil price volatility.
Bloomberg also reported that Sinopec is reviving an initial public offering for its retail arm that could raise up to $10 billion.
Other Chinese oil stocks such as PetroChina and CNOOC also surged on the Hong Kong stock exchange on Wednesday morning.
The increase followed a report on the online edition of Chinese newspaper Beijing Times claiming a massive hike in gasoline prices in China is expected to be announced in the near future.
http://asia.nikkei.com/Business/AC/Sinopec-soars-on-acquisition-speculation
Last edited:
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
Surprised that they call it "Kurdish" energy company. It is Iraqi energy company that mainly operates in the Northern part of the country.
Hopefully, on this, they company is also talking to the central government of Iraq. Otherwise, they may suffer like Exxon did before. Also, no need to alienate the Baghdad government.
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
The way of reporting reflects how a pro-Kurdish media (western MSM in general) view a divided Iraq. Anyway SINOPEC already has huge presence in Iraq, I believe they know how to handle the delicate politics there.
SINOPEC is acquiring this financially troubled (now controlled by its creditors) company, which as Nikkei called it is a UK firm, transaction to be carried out in London, not Baghdad.
I believe SINOPEC will use this asset to further reinforce position in Iraq, generating more revenue/tax for Iraq. For the sake of security, China should continue to engage Iraq, send more weapons to them, more advisors and PAP servicemen.
Last edited:
TaiShang
ELITE MEMBER
- Joined
- Apr 30, 2014
- Messages
- 27,848
- Reaction score
- 70
- Country
- Location
I think they are not being pro-Kurdish but more pro-divided Iraq.
I see now; interesting the first report calls it a “Kurdish" company. The best way to report would be to call it a company operating in the Kurdish majority regions of Iraq.
As yo mention, the Nikkei report says it is actually a British company that has some fields in North Iraq under operation.
I also believe SINOPEC would care about regional and national politics. It is always advisable to do energy business in cooperation with the central government. This also adds to China's image of a non-interventionist and pro-sovereignty country.
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
Yes it's SINOPEC takeover a UK firm which operates in northern Iraq. That's why I posted same deal from two sources, readers can have a better understanding of the situation. Big business especially energy, and politics, are always intertwined.
I would say China should adopt a pro-national interests principle, not that China must intervene with others' sovereignty, but do whatever it takes to serve that purpose, and while doing so, try not to harm the locals.
Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
HNA-Ingram deal lifts China offshore acquisition fears
Bankers buoyed by completion of $6bn purchase after crackdown on noncore activities
December 8, 2016
by: Don Weinland in Hong Kong
HNA’s Ingram deal had been awaiting approval from China’s State Administration of Foreign Exchange. But it was thrown into question by new State Council restrictions on Chinese groups buying overseas companies in areas outside their “core” business.
Any noncore acquisition worth more than $1bn will now be refused regulatory approval, according to people who have seen documents on the new rules.
As a result, bankers had been worried as to whether Ingram’s technology supply chain operation in the US could be deemed as “core” to HNA, which is a Chinese conglomerate built around an airline business.
One banker working on a number of other cross-border deals with HNA said approval for Ingram was in effect “a test to see if they could continue” acquiring valuable assets overseas.
HNA has at least seven deals worth up to $6.8bn still awaiting regulatory approval, according to an analysis of data from Dealogic.
It has been one of the most acquisitive Chinese groups of recent times, spending more than $33bn in the past two years, to build an empire stretching from airlines, airports and logistics to hotels and travel groups. In October, Avolon Holdings, an aircraft leasing company controlled by HNA, agreed to pay $10bn for the leasing arm of US-based CIT Group.
But it has also seen the overseas ambitions of some of its peers curtailed by Chinese regulators.
At the end of last year, the chairman of Fosun — a conglomerate that has acquired such overseas assets as stakes in Club Med and Cirque du Soleil — disappeared from public view and later cancelled a deal that was in progress.
It was widely interpreted as a sign that the group had fallen out of favour with regulators. Since then, Fosun’s overseas activity has slowed and earlier this week it sold Ironshore Insurance in the US.
Anbang Insurance has also fallen foul of China’s regulators. Earlier this year, reports suggested the China Insurance Regulatory Commission had upended its $14bn bid for Starwood Hotels & Resorts.
Some banks had started to adopt a cautious stance towards HNA. One Chinese lender recently removing the company from a list of strategic clients, according to a person familiar with the decision.
However, HNA has remained confident. Earlier this week, the chief investment officer of one of its investment arms was quoted by Reuters as stating that restrictions on cross-border investment would impact some of its Chinese competitors — but not HNA itself, which might even benefit from having fewer rival bidders.
https://www.ft.com/content/ca071d90-bc5e-11e6-8b45-b8b81dd5d080
Bankers buoyed by completion of $6bn purchase after crackdown on noncore activities
December 8, 2016
by: Don Weinland in Hong Kong
HNA Group began on the Chinese island of Hainan © Reuters
Bankers working for China’s HNA Group have been buoyed by the successful completion of its $6bn deal for US technology group Ingram Micro — indicating that other pending acquisitions of overseas assets will not be blocked by restrictions on moving capital offshore.
HNA’s Ingram deal had been awaiting approval from China’s State Administration of Foreign Exchange. But it was thrown into question by new State Council restrictions on Chinese groups buying overseas companies in areas outside their “core” business.
Any noncore acquisition worth more than $1bn will now be refused regulatory approval, according to people who have seen documents on the new rules.
As a result, bankers had been worried as to whether Ingram’s technology supply chain operation in the US could be deemed as “core” to HNA, which is a Chinese conglomerate built around an airline business.
One banker working on a number of other cross-border deals with HNA said approval for Ingram was in effect “a test to see if they could continue” acquiring valuable assets overseas.
HNA has at least seven deals worth up to $6.8bn still awaiting regulatory approval, according to an analysis of data from Dealogic.
It has been one of the most acquisitive Chinese groups of recent times, spending more than $33bn in the past two years, to build an empire stretching from airlines, airports and logistics to hotels and travel groups. In October, Avolon Holdings, an aircraft leasing company controlled by HNA, agreed to pay $10bn for the leasing arm of US-based CIT Group.
But it has also seen the overseas ambitions of some of its peers curtailed by Chinese regulators.
At the end of last year, the chairman of Fosun — a conglomerate that has acquired such overseas assets as stakes in Club Med and Cirque du Soleil — disappeared from public view and later cancelled a deal that was in progress.
It was widely interpreted as a sign that the group had fallen out of favour with regulators. Since then, Fosun’s overseas activity has slowed and earlier this week it sold Ironshore Insurance in the US.
Anbang Insurance has also fallen foul of China’s regulators. Earlier this year, reports suggested the China Insurance Regulatory Commission had upended its $14bn bid for Starwood Hotels & Resorts.
Some banks had started to adopt a cautious stance towards HNA. One Chinese lender recently removing the company from a list of strategic clients, according to a person familiar with the decision.
However, HNA has remained confident. Earlier this week, the chief investment officer of one of its investment arms was quoted by Reuters as stating that restrictions on cross-border investment would impact some of its Chinese competitors — but not HNA itself, which might even benefit from having fewer rival bidders.
https://www.ft.com/content/ca071d90-bc5e-11e6-8b45-b8b81dd5d080
samsara
SENIOR MEMBER
- Joined
- Oct 28, 2016
- Messages
- 2,793
- Reaction score
- 8
- Country
- Location
Chinese firm acquires global aircraft manufacturing giant
CRIENGLISH.com | Web Editor: Zhang Xu | 2016-12-17
Wanfeng Auto Holding Group holds a handover ceremony to acquire Diamond Aircraft Industries in Canada, on Tuesday, Dec. 13, 2016. [Photo: The Paper]
Wanfeng Auto Holding Group has announced that a handover ceremony was held in London, Ontario, Canada on Tuesday following the formal acquisition of Diamond Aircraft Industries, the world's third-largest general aviation aircraft manufacturer, The Paper reports.
This purchase is the latest move for Wanfeng, based in Zhejiang province, to build a whole-industry chain in aviation, after it acquired three aircraft manufacturing projects in Czech Republic and an aviation training school in Canada, as well as built its own aviation town in Zhejiang. Chen Ailian, board chairman of Wanfeng, revealed that the first plane produced and named by Wanfeng is to make its maiden flight next summer.
Established in 1981, Austrian-headquartered Diamond Aircraft Industries produces a range of light aircraft and has been engaged in the development of a single-engine jet aircraft, the Diamond D-Jet.
Founded in 1994, Wanfeng has businesses in such fields as auto parts manufacturing, robotic and intelligent equipment, magnesium alloy, and financial investment, with annual sales of 3 billion U.S. dollars.
This file photo shows general aviation aircraft made by Diamond Aircraft Industries. [Photo: The Paper]
CRIENGLISH.com | Web Editor: Zhang Xu | 2016-12-17
Wanfeng Auto Holding Group holds a handover ceremony to acquire Diamond Aircraft Industries in Canada, on Tuesday, Dec. 13, 2016. [Photo: The Paper]
Wanfeng Auto Holding Group has announced that a handover ceremony was held in London, Ontario, Canada on Tuesday following the formal acquisition of Diamond Aircraft Industries, the world's third-largest general aviation aircraft manufacturer, The Paper reports.
This purchase is the latest move for Wanfeng, based in Zhejiang province, to build a whole-industry chain in aviation, after it acquired three aircraft manufacturing projects in Czech Republic and an aviation training school in Canada, as well as built its own aviation town in Zhejiang. Chen Ailian, board chairman of Wanfeng, revealed that the first plane produced and named by Wanfeng is to make its maiden flight next summer.
Established in 1981, Austrian-headquartered Diamond Aircraft Industries produces a range of light aircraft and has been engaged in the development of a single-engine jet aircraft, the Diamond D-Jet.
Founded in 1994, Wanfeng has businesses in such fields as auto parts manufacturing, robotic and intelligent equipment, magnesium alloy, and financial investment, with annual sales of 3 billion U.S. dollars.
This file photo shows general aviation aircraft made by Diamond Aircraft Industries. [Photo: The Paper]
