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M&A

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Sail of the century

China’s sneaky aircraft carrier deal remembered, as Ukraine blocks jet sale
Mar 26, 2021 (WiC 533)

What do you do when the Son of Heaven turns up on your doorstep? In the 13th century, the citizens of Kiev decided they weren’t that keen on welcoming in the Mongol army headed by Genghis Khan’s grandson Baku. The Mongols responded by ...

A confident move

Jardines is unwinding its cross-shareholding
Mar 12, 2021 (WiC 531)

Tessa Keswick – wife of former Jardine Matheson taipan Henry Keswick – published a lively memoir last year about her four decades of contact with China. One of the more intriguing aspects of The Colour of the Sky After Rain was the detail it ...

Building a behemoth

Tianshan Cement set to be new national giant upon $15 billion deal
Mar 12, 2021 (WiC 531)

Is it a bowler hat or a snake swallowing an elephant? The question – asked about a drawing in Antoine de Saint-Exupéry’s novella Le Petit Prince – is a litmus test for the imagination. Picking the snake, according to its narrator, ...

The final whistle

Suning finds new backers, but dumps soccer club
Mar 5, 2021 (WiC 530)

GOME and Suning were China’s two most powerful retailers back in 2005. Dominating more than 80% of home appliance sales nationwide, their full-blooded rivalry was talked about as “the Battle of Mei-Su”, drawing comparison with the history ...

Will the shoe fit?

Li Ning takes control of UK shoemaker Clarks
Jan 22, 2021 (WiC 525)

The fashion industry is filled with comeback stories. Mom jeans, tie-dye clothes and bum bags (or fanny packs, in US parlance) have all made a return over the years. And just when investors were ready to write off Li Ning, the eponymous ...

Ready for a reshuffle

Calls for shareholder changes at MGM; Macau gaming great Adelson dies
Jan 15, 2021 (WiC 524)

Sheldon Adelson, the founder of gaming giant Las Vegas Sands, was pretty unimpressed when he first laid eyes on the city that would make him one of the richest men in the world. “Prostitution infested, crime infested, triad infested,” he ...

Nestlé sells Yinlu back to founder Chen Qingshui
Dec 11, 2020 (WiC 522)

Nestlé has a presence spanning more than a century in most of the 80 markets around the globe it operates in. But for mainland China, its engagement only started in 1987 with collections of milk from dairy farmers in northeastern Heilongjiang ...

State Grid mops up more South American assets
Nov 27, 2020 (WiC 520)

For the past two centuries, US foreign policy in Latin America has been guided by the Monroe Doctrine of 1823, when the then president – James Monroe – warned European powers against trying to assert any control over the newly independent ...

Two new bidders go after Huishan Dairy
Oct 9, 2020 (WiC 514)

Dairy hasn’t been a prominent part of China’s culinary history but tastes are changing as society gets wealthier. That included some of the new offerings at last week’s Mid-Autumn Festival. Traditional mooncake fillings with lotus and red ...

Arming for a fight

China looks set to veto US tech giant’s Arm bid
Sep 25, 2020 (WiC 512)

When it comes to world wars, countries generally don’t have long to decide whose side they’re on, or whether they can adopt a neutral position. Three decades of rampant globalisation has left the corporate world in the same invidious position ...

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