Sources told Bloomberg that Beijing-based insurance firm Anbang Insurance Group was thinking of offering a bid for Hong Kong's Wing Hang Bank Ltd even though an Anbang press official said the company has no plans to purchase the lender.
Asia/Pacific
UBS scales back its corporate advisory services in emerging markets
The Corporate Advisory Group of Swiss lender UBS, said three unnamed sources, will be scaling back its team in charge of providing corporate advisory and investment banking services to the ultra-rich in emerging markets including Asia and the Middle East.
CANADA PENSION PLAN INVESTMENT BOARD AND SHAPOORJI PALLONJI GROUP ENTER INTO A STRATEGIC ALLIANCE
Canada Pension Plan Investment Board and Shapoorji Pallonji Group today announced the formation of a strategic alliance to acquire FDI-compliant, stabilized office buildings in the major metropolitan areas of India.
Exxon to exit 25% stake in Iraq oilfield to PetroChina
US oil major Exxon Mobil will sign over its 25% stake in Iraq's West Qurna1 oilfield project to China's largest energy company PetroChina. Exxon previously offered to sell its entire stake in the oilfield following a disagreement with Iraq's central government.
Goldpoly New Energy Holdings enters agreement to purchase equity stake in solar farm projects
Chinese photovoltaic solar farm operator GoldPoly New Energy Holdings will be purchasing an 80% equity stake in solar farm projects for HKD 100 million or USD 12.9 million.
Latest News
Banco de Oro (BDO), the top lender in the Philippines, has successfully completed a PHP5 billion fundraising through an offering of high-yield deposits to retail and institutional investors.
American private equity firm KKR & Co LP reportedly agreed to commit USD200 million in Indian injectables manufacturing company Gland Pharma. The deal could put the company's valuation around USD600 million to USD650 million.
Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.
Australia-based gas and oil explorer Octanex said the main reason for its merger with Peak Oil & Gas was the latter's access to exploration projects in the Philippines and in Indonesia.
German bank Deutsche Bank AG is reportedly negotiating the sale of Tilney Investment Management to British private equity firm Permira. Permira has beaten other rival bidders for Tilney, including Brown Shipley & Co.
Japanese chipmaker Toshiba offered to acquire solid-state hard drive maker OCZ Technology Group Inc. in a planned bankruptcy proceeding. The California-based company will immediately file for bankruptcy and liquidate if the deal with Toshiba falls apart.
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Sinopec, Apache, AMR, US Airways, Deutsche Bank, EDF, Oxford, Andor, Bank Zachodni WBK, Shuanghui, Campofrio, OCZ, Toshiba and CVS Caremark.
ZOOM TECHNOLOGIES INC. TO ACQUIRE BEIJING BAIFEN TONGLIAN INFORMATION & TECHNOLOGY CO., LTD. Zoom Technologies, Inc. (Nasdaq:ZOOM) is a technology holding company focused on the mobile telecommunications and technology space.
The price briefly topped the equivalent of $1,000 on Chinese exchange BTC China back on 19th November, but this is the first time this level has been reached in a US dollar denominated exchange rate.
