A couple of major overseas moves are in the headlines today, spotlighting the fact that Chinese firms are becoming increasingly adept at relatively simple resource deals, even as they still lack sophistication to do M&A in other, more complex sectors. In the former category, oil major PetroChina (HKEx: 857; Shanghai: 601857; NYSE: PTR) has reached a deal to co-develop a $3 billion oil pipeline in Canada with a local partner, in the largest project of its kind by a Chinese firm to date. In the latter, a white-knight rescue bid by a relatively obscure Chinese firm for bankrupt plane maker Hawker Beechcraft has collapsed, leaving the US company no choice but to work out a reorganization plan with its creditors.
Tag Archives: Hawker Beechcraft
China’s Hawker Aircraft Buy Hits Turbulence 中国公司收购豪客比奇遭遇动荡
In what should come as a surprise to no one, a deal announced last week for a little-known Chinese firm to buy bankrupt US aircraft maker Hawker Beechcraft has already hit its first turbulence with objections from a major trade union, the International Association of Machinists and Aerospace Workers. This objection is only the first of many that I expect to see in this case, not only from the US but also from skeptical Chinese regulators, meaning this deal is almost guaranteed to fail. Let’s look at this first big obstacle, which comes just a week after Superior Aviation Beijing, partly owned by the Beijing municipal government, said it was in exclusive talks to buy Hawker for up to $1.8 billion. (previous post)
News Digest: July 17, 2012 报摘： 2012年7月17日
The following press releases and media reports about Chinese companies were carried on July 17. To view a full article or story, click on the link next to the headline.
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- Suning (Shenzhen: 002024) Shares Plunge 10 Pct As Website Misses Target (Chinese article)
- Machinists Union Challenges Hawker Beechcraft Sale to Chinese Company (Businesswire)
- US Wins WTO Case Over China UnionPay Bank Card Monopoly (English article)
- Lenovo (HKEx: 992) Aims For Top Global PC Spot This Year, Profits Under Pressure (Chinese article)
- 360Buy Allies with NetEase (Nasdaq: NTES) on Gaming Sales (English article)
- Latest calendar for Q1 earnings reports (Earnings calendar)
China Powers Up Aviation Drive With Hawker Bid 中国航空业迈向国际化
The recent expansion by Chinese aviation firms into international airspace is powering ahead with word of 2 more global deals, including a new aircraft parts joint venture involving Air China (HKEx: 753; Shanghai: 601111) and an even more intriguing bid for bankrupt business jet maker Hawker Beechcraft by a Chinese buyer. Both of these deals are just the latest in a series of outward moves by China’s aviation industry, a largely inwardly looking group which I suspect has come under recent pressure from Beijing to become more global.
News Digest: July 10, 2012 报摘： 2012年7月10日
The following press releases and media reports about Chinese companies were carried on July 10. To view a full article or story, click on the link next to the headline.
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◙ Hawker Beechcraft in Talks With Chinese Company for Sale (English article)
◙ Bankers Approach Tencent (HKEx: 700), Others on Activision (Nasdaq: ATVI) Sale (English article)
◙ Youku (NYSE: YOKU) Premium Enters into Licensing Agreement with NBCUniversal (PRNewswire)
◙ Denny’s (Nasdaq: DENN) Expanding Global Franchising Presence to China (Businesswire)
◙ Camelot Information (NYSE: CIS) In JV with Wuhan Iron and Steel Engineering Group (PRNewswire)
