Bottom line: HNA’s potential bid for 2 South American airlines looks opportunistic and could succeed due to its likely willingness to overpay, while Jin Jiang’s latest attempt to boost its stake in Accor could presage a takeover bid this year or next.
HNA eyes South American airlines
Two major tourism deals are in the headlines as the new week begins, reflecting Chinese companies’ desire to capitalize on the growing number of local tourists traveling abroad. Leading the news is word that Hainan Airlines (Shanghai: 600221) parent HNA Group is in talks to purchase South American carrier Avianca, just a week after the company made another major investment in Australian carrier Virgin Australia (Sydney: VBA). (previous post) The other headline has hotel company Jin Jiang (HKEx: 2006; Shanghai: 600754) trying to slowly take control of French giant Accor (Paris: AC), with word it wants to further boost a stake that it started buying early this year. Read Full Post…
he following press releases and media reports about Chinese companies were carried on July 28. To view a full article or story, click on the link next to the headline.
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China Minsheng Investment to Acquire Sirius Int’l Insurance for $2.2 Bln (English article)
The following press releases and media reports about Chinese companies were carried on April 14. To view a full article or story, click on the link next to the headline.
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