New reports that major car maker Dongfeng Motor (HKEx: 489) is bidding to buy a struggling US hybrid car maker are casting a spotlight on China’s emerging role as scavenger for global new energy companies struggling to stay in business. A number of factors are driving this budding trend, led by the fact that many of these Chinese suitors are relatively cash rich and in a good position to provide much-needed funds for cash-starved western new energy firms.
Tag Archives: Wanxiang
Free Trade Wins as US OKs Nexen Sale 美国为中海油收购尼克森放行 自由贸易的胜利
In a big victory for free trade, the US has approved the sale of Canadian oil exploration giant Nexen (Toronto: NXY) to China’s CNOOC (HKEx: 883; NYSE: CEO), removing the last major obstacle that could have stopped the landmark deal. The US approval was decidedly low-key, with Nexen formally announcing it had received the final major green light it needed to close the sale. (English article) The development marks the second major approval of a potentially sensitive deal by the US in the last month, and is the latest indicator that such deals that pose no real risk to national security and are likely to move forward for now without political resistance.
News Digest: December 1 报摘： 2012年12月1日
The following press releases and media reports about Chinese companies were carried on December 1. To view a full article or story, click on the link next to the headline.
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- Apple’s (Nasdaq: AAPL) iPad mini & iPhone 5 Arrive in China in December (Businesswire)
- Yum (NYSE: YUM) Warns Of China Q4 Sales Drop As Macro-Economy Bites (English article)
- China Approves Wanxiang Plan To Buy US Battery Maker A123 (English article)
- ReneSola (NYSE: SOL) Announces Q3 Results (PRNewswire)
- Xiaomi Invests $1.8 Mln To Buy 10 Pct of Kingsoft (HKEx: 3888) Cloud Unit (Chinese article)
