China M&A – Week in Review – 24-28 AUG 2015

China M&A – Week in Review – 24-28 AUG 2015

China M&A Week in Review is SSCO’s weekly summary of deals and key developments in China related Mergers and Acquisitions. Our emphasis is on cross-border deals.

M&A Trends
Inbound M&A
Outbound M&A and Investment
Domestic M&A

M&A bankers hopeful despite China’s market woe – FinanceAsia, 08/27/2015 China’s wild stock market ride and shredded investor confidence will not necessarily kill off deal-making. yet a weakening yuan could impact the offshore ambitions of Chinese companies.

Kremlin pivot to China slowed as projects delayed – Reuters , 08/27/2015 Hopes for flood of Chinese money fade A growing economic crisis in Russia and a growth slowdown in China has stalled joint projects worth around $113 billion, including gas pipelines and power grids.

Inbound M&A

Investor Group Considering Cutting $9 Billion Offer for China’s Qihoo 360 – WSJ, 08/28/2015 The investor group offering to buy out Qihoo 360 Technology Co. is considering cutting its $9 billion bid after China’s stock-market rout lowered valuations.

Outbound M&A and Investment

Wanda crosses finish line to clinch $650m WTC deal – FinanceAsia, 08/27/2015 After several aggressive overseas acquisitions, Wanda brought another trophy home. China’s Dalian Wanda has acquired 100% of the World Triathlon Corporation (WTC), the world’s largest operator of Ironman triathlon events. The takeover will enable Wanda to “secure core resources and assets in the global sports industry” and “complete the formation of a comprehensive sports business.”

Russia’s Novatek to sell 10 pct in Yamal to Chinese fund – Reuters, 08/24/2015 Russia’s second largest gas producer Novatek is close to selling a 9.9 percent stake worth an estimated $1.4 billion in its Yamal liquefied natural gas (LNG) project to a Chinese investment fund.

Brazil’s Triunfo to sell 3 energy businesses to China Three Gorges – Reuters, 08/25/2015Brazil’s Triunfo Participacoes e Investimentos SA announced it was selling controlling stakes in three different energy businesses to the local subsidiary of China Three Gorges Corp for up to $538 million.

安邦收购葡萄牙第三大银行前景不明 – FT, 08/24/2015 Anbang Insurance Group’s bid for Portugal bank Novo Banco could end in failure. If successful Anbang would be the first Chinese company to acquire a systemically important financial institution in Europe.

China firm balks at $8.8 billion price tag for BOC bank unit sale – Reuters, 08/26/2015 Chinese investment firm Yue Xiu has effectively pulled out of a deal to buy a unit of lender BOC Hong Kong Holdings Ltd, put off by the $8.8 billion asking price amid a sharp stock market downturn.

Chinese group to bid for two Australian cattle properties – SCMP, 08/28/2015 China’s PengXin Group is bidding for two large scale Australian cattle properties . If successful the deal would make the Chinese conglomerate the biggest owner of farmland in the country.

Domestic M&A

葵花药业拟收购隆中药业控股权 上半年业绩平稳 – 前瞻网 08/25/2015 Sunflower Pharmaceuticals Group aims to acquire Longzhong Medical Co.

Saturday August 29th, 2015