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M&A

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State shareholder cuts its stake in air-con giant
Apr 12, 2019 (WiC 448)

In imperial China, the emperor always had to watch his back, making sure that none of his court could make a play for his throne. In a more corporate context, the parallel risk is that a key executive becomes so indispensible that a ...

Ground down by CFIUS

Beijing Kunlun under pressure from US regulators to sell dating app
Apr 5, 2019 (WiC 447)

In 2016 Barack Obama was resident in the White House. Sino-US relations were better than today but Washington still blocked a number deals backed by Chinese investors. Blackstone called off the sale of Hotel del Coronado in California – a ...

‘Private’ healthcare

Resolution reached in one of China’s most drawn-out takeover battles
Mar 29, 2019 (WiC 446)

The hostile battle to take over China Vanke drew to a close in early 2016 – in the end thanks to the government’s influence. The state-backed Shenzhen Metro ended up becoming the biggest shareholder of the iconic developer (see WiC317), and ...

Bargain hunting

Suning takes over Wanda’s department stores
Feb 22, 2019 (WiC 441)

The newly opened Yanjiyou bookstore in Xi’an is fighting the trend to buy online. Stocking over 130,000 titles in a double-storied building of 4,500-square-metres, the bookstore features an art gallery, a café and even a creative industry ...

Ever electric Evergrande

After Faraday, property giant gets new EV partner
Jan 25, 2019 (WiC 438)

Soon after resolving its conflicts with Faraday Future, a Los Angeles-based start-up (see WiC428), China’s leading real estate developer Evergrande took almost no time to find another partner to bolster its ambitions in electric cars. On ...

What went wrong?

‘China’s Facebook’ exits social media business
Nov 23, 2018 (WiC 433)

One of the problems with social media platforms like Facebook and Instagram is that all the photos of lovely holidays and stimulating social lives can stir the occasional feeling of envy and anxiety. Chinese internet firm Renren also suffered ...

Not the end of the road

A comeback for the tycoon who first imagined the ‘Greater Bay Area’
Oct 5, 2018 (WiC 427)

Jardine House was Hong Kong’s tallest building until 1980 when it was surpassed by the Hopewell Centre in Wanchai. Xu Jiatun, head of the Hong Kong branch of Chinese news agency Xinhua – a role which in that era made him the country’s ...

Anta bids for iconic Salomon and Wilson brands
Sep 28, 2018 (WiC 426)

When star swimmer Sun Yang climbed onto the podium to receive his gold medal at the Asian Games last month, Anta Sports was furious. That’s because Sun wore a jacket made by rival sportswear firm 361 Degrees. Anta cried foul that this ...

Heineken seals tie-up with China Resources Beer
Aug 17, 2018 (WiC 420)

In 2014 the controlling shareholder of Dutch beer giant Heineken told Fortune magazine she had been “very, very sorry” when another family-owned brewer – Anheuser-Busch – was sold to InBev six years earlier. In the same interview, ...

Parent trapping

Alibaba’s latest investment targets babies
Jun 15, 2018 (WiC 413)

Terrified that an aging population might derail its economic ascent, in late 2015 China eased its decades-long policy limiting most couples to only one child, hoping three million additional births a year through 2020 would add more than 30 ...

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