Tag Archives: Fosun

Fosun latest Business & Financial news from Doug Young, the Expert on Chinese High Tech Market, (former Journalist and Chief editor at Reuters) Fosun is Chinese company.

M&A: Cowen, MoneyGram Deals Wait for US Nod, Xinhua Lectures Trump

Bottom line: The US could veto the purchase of brokerage Cowen by a Chinese energy firm, and could also block Ant Financial’s purchase of MoneyGram under tougher scrutiny by the Donald Trump administration.

US set to block more Chinese purchases?

Just days after President Donald Trump made his first veto of a Chinese deal in the US, two other deals appear to be running into trouble for similar reasons, though it’s too early to call either dead just yet. In both instances, the buyers, Ant Financial and CEFC China Energy, have refiled proposals to regulators for their purchases of two financial services firms, MoneyGram (NYSE: MGI) and Cowen Inc. (Nasdaq: COWN), respectively. Both need approval from the powerful Committee on Foreign Investment in the United States (CFIUS), which reviews all such cross-border deals for national security considerations.

The regulatory stalling of those two deals comes just days after Trump officially killed another deal for a China-backed bid to buy Lattice Semiconductor (Nasdaq: LSCC), (previous post). So now people are trying to draw connections between these developments. Since that veto, China’s official Xinhua news agency has come out with an editorial over the weekend saying Trump is only hurting America by blocking such deals, which are part of the natural ebb and flow of global trade. Read Full Post…

China News Digest: September 29, 2016

The following press releases and news reports about China companies were carried on September 29. To view a full article or story, click on the link next to the headline.
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  • China Postal Savings Bank (HKEx: 1658) Fails to Make Waves in $7.4 Bln HK Debut (English article)
  • New Century Cruise (Shenzhen: 002558) to Buy Mobile Games Business Playtika (English article)
  • Fosun (HKEx: 656) Joins First Public-Private Funded High-Speed Rail Line Group (Chinese article)
  • Apple (Nasdaq: AAPL) Picks Beijing for First China R&D Center, to Invest 300 Mln Yuan (Chinese article)
  • Baidu (Nasdaq: BIDU) Self-Driving Car to Debut in 2018, Cost More Than 1 Mln Yuan (Chinese article)

China News Digest: September 13, 2016

The following press releases and news reports about China companies were carried on September 13. To view a full article or story, click on the link next to the headline.
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  • Alipay Adds Transaction Fee for Transfers to Bank Accounts (Chinese article)
  • China’s Regulator Tightens Control on Live Video Broadcasting (English article)
  • Didi Chuxing, Uber China Join With Local Partner to Promote New Energy Cars (Chinese article)
  • Google’s (Nasdaq: GOOG) Former China Chief Raises $674 Mln in New Funds (English article)
  • Thomas Cook, Fosun (HKEx: 656) in Joint Venture to Tap China Travel Market (Chinese article)

China News Digest: September 1, 2017

The following press releases and news reports about China companies were carried on September 1. To view a full article or story, click on the link next to the headline.
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  • Tencent (HKEx: 700) Announces Interim Results (HKEx announcement)
  • Xiaomi to Launch Mobile Payment Service Mi Pay with Bank Card Support (English article)
  • Sina (Nasdaq: SINA) Announces Distribution of Weibo (Nasdaq: WB) Shares (PRNewswire)
  • Fosun (HKEx: 656) in Talks to Buy Stake in Russia’s Renaissance Capital (English article)
  • ChineseAll Digital Publishing (Shenzhen: 300364) Buys 16 Pct of Sina Reader (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

China News Digest: August 4, 2016

The following press releases and news reports about China companies were carried on August 4. To view a full article or story, click on the link next to the headline.
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  • Didi, SoftBank Lead $600 Mln-Plus Round for GrabTaxi (English article)
  • Qihoo 360 (NYSE: QIHU) to Spin Off Businesses for Future IPO in China (English article)
  • Fosun (HKEx: 656) Denies Under Pressure to Sell Assets (Chinese article)
  • China Internet Users Reach 710 Mln, 92 Pct Access Via Mobile – CNNIC (Chinese article)
  • Burberry (London: BRBY) to Buy Out Partner in China JV for 54 Bln Pound (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

China News Digest: Tuesday, August 2, 2016

The following press releases and news reports about China companies were carried on August 2. To view a full article or story, click on the link next to the headline.
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  • Didi Chuxing Acquires Uber China Operation, Uber Founder to Enter Didi Board (Chinese article)
  • Fantasia (HKEx: 177) to Buy Wanda Commercial Property Management Arm for 2 Bln Yuan (Chinese article)
  • Oppo Signs 3G/4G Chip Licensing Deal with Qualcomm (Nasdaq: QCOM) (Chinese article)
  • Sohu.com (Nasdaq: SOHU) Reports Q2 Unaudited Financial Results (PRNewswire)
  • Fosun (HKEx: 656) to Buy up to 30 Pct of Portugal’s Biggest Listed Bank (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

FINANCE: Fosun Makes BRICS Buys in Drugs, Asset Management

Bottom line: Fosun’s newest acquisitions indicate it could soon become more active in the asset management and drug sectors outside China, with a focus on emerging markets like the BRICS countries.

Fosun buys India’s Gland Pharma

Private equity giant Fosun (HKEx: 656) is in 2 separate M&A headlines in the BRICS nations of Brazil and India, purchasing an asset manager in the former and a drug maker in the latter. Pharmaceuticals and real estate have been 2 of Fosun’s focus areas in its shopping spree both at home and abroad, though the move into developing markets is relatively new.

Fosun has more traditionally focused its global buying on western markets in the US and Europe. So this latest pair of deals could signal a new focus on emerging markets, especially ones like Brazil and Russia where recent economic malaise could be pressuring some debt-laden companies to sell off assets at bargain prices to raise cash. Read Full Post…

China News Digest: July 30-August 1, 2016

The following press releases and news reports about China companies were carried on July 30-August 1. To view a full article or story, click on the link next to the headline.
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  • Giant Interactive, Alibaba’s (NYSE: BABA) Jack Ma to Pay $4.4 Bln for Game Firm Playtika (Chinese article)
  • China Postal Bank’s $10 Bln IPO Stirs Foreign Interest, But Valuation a Worry (English article)
  • Besttone Holdings to Pay 6.9 Bln Yuan for China Telecom (HKEx: 728) Online Video Assets (Chinese article)
  • Meituan-Dianping Roll Out New Food and Beverage Platform (Chinese article)
  • Fosun (HKEx: 656) to Buy Brazilian Real Estate Management Fund Rio Bravo (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

China News Digest: July 29, 2016

The following press releases and news reports about China companies were carried on July 29. To view a full article or story, click on the link next to the headline.
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  • Baidu (Nasdaq: BIDU) Announces Q2 2016 Results (PRNewswire)
  • China Formally Legalizes Online Car Booking Services (English article)
  • Fosun (HKEx: 656) Pays $1.26 Bln for 86 Pct of India’s Gland Pharma (Chinese article)
  • New Oriental Announces Xun Cheng’s Listing Application for China’s NEEQ (PRNewswire)
  • Baozun (Nasdaq: BZUN) to Establish E-Commerce JV with Korea’s CJ O Shopping (GlobeNewswire)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

IPOs: Fosun Looks for China Magic in Ironshore NY Listing

Bottom line: Fosun’s New York IPO plan for US insurer Ironshore could draw strong interest due to Fosun’s China and global connections, and may ultimately raise up to $1 billion later this year.

Fosun eyes NY listing for Ironshore

China’s recent global buying spree has created some interesting investment opportunities, as Chinese acquirers increasingly look to western investors to help pay for their purchases. One such new opportunity is in the headlines this week, with word that Chinese private equity giant Fosun (HKEx: 656) is aiming to launch a New York IPO for its recently acquired US insurer Ironshore. In this growing trend, the Chinese investors are hoping to generate some buzz for this kind of IPO by taking regionally-focused assets and repositioning them as global plays, often with a big China focus. Read Full Post…

China News Digest: July 5, 2016

The following press releases and news reports about China companies were carried on July 5. To view a full article or story, click on the link next to the headline.
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  • CICC (HKEx: 3908), China Investment Securities Said to Be in Merger Talks (English article)
  • Midea (Shenzhen: 000333) Buys Stake in Germany’s Kuka (Frankfurt: KU2) for $1.3 Bln (English article)
  • Fosun (HKEx: 656), Ant Financial in Strategic Partnership (Chinese article)
  • Kingsoft (HKEx: 3888) Makes $125 Mln H1 Provision for Losses at Xunlei, 21Vianet (HKEx announcement)
  • Baidu (Nasdaq: BIDU) Completes Literature Unit Sale to Perfect World, No Price Given (Chinese article)