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M&A

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Home furnisher Qumei makes $630 million bid
Jun 8, 2018 (WiC 412)

Age cannot wither them – to paraphrase Shakespeare’s line about Cleopatra. Statues made in Ancient Greece pre-date the Egyptian queen by 500 years or more but they still astonish today. A particular skill of the Athenian sculptors was to give ...

Insurance claim

Will Buffett soon make another move in China?
May 11, 2018 (WiC 408)

Warren Buffett has always attracted admirers from the Middle Kingdom. There are always Chinese bidders participating eagerly in the charity auctions for private lunches with the Sage of Omaha (see WiC297) and thousands of Chinese investors join ...

Fonterra troubled by another Chinese partner
Apr 6, 2018 (WiC 403)

There were mixed reactions when the world’s biggest milk supplier Fonterra announced in late 2014 its second dealmaking foray in China by investing $445 million in Hangzhou-based Beingmate. The optimists called the deal a “game-changer” ...

Puzzle as online bookseller DangDang sells itself to cash-strapped HNA
Mar 23, 2018 (WiC 402)

For many years Amazon’s closest doppelganger in China was not Alibaba nor JD.com, but the Beijing-based e-commerce player DangDang. They both started out selling books, with their founders marrying English majors who were also financially ...

Baidu exits food delivery to focus on AI
Mar 2, 2018 (WiC 399)

To show that it’s at the forefront of artificial intelligence, Baidu found a new way to incorporate its AI technology into its Chinese New Year celebration. When employees at China’s largest search firm used company vending machines last ...

A foot in both camps

Why Wanda has teamed up with Tencent and JD.com for new capital?
Feb 2, 2018 (WiC 396)

Not so long ago Wang Jianlin had tasked his Wanda Group with winning battles on three epic fronts: to outgrow Simon Property to become the world’s biggest property firm by asset size (see WiC187); to counter Disney’s influence and become the ...

Why Jack Ma’s Moneygram bid was rejected?
Jan 12, 2018 (WiC 393)

“It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife,” is the famed opening to Pride and Prejudice. Less well known is how Jane Austen completes the paragraph: ...

Keep on trucking

A merger between the leading duo in an Uber-like truck service
Dec 8, 2017 (WiC 391)

In 2011 a Fulbright scholar embarked on a marathon journey across China, grabbing lifts from a few of the five million or so truckers that haul cargo around the country. By her own estimate, Rachel Katz travelled 6,000 miles in the company of ...

Joining the yacht club

Zhongwang drops Aleris bid and turns to boat builder
Nov 17, 2017 (WiC 388)

In his own country, he has been bestowed with the title “constructor of socialism with Chinese characteristics.” It is not a moniker that was ever likely to play well in the US, where Zhongwang Group’s chairman, Liu Zhongtian, has been ...

Crafty competitors

Asahi to exit Tsingtao as Chinese drinkers switch to craft beers
Oct 27, 2017 (WiC 385)

Founded in 1903 as an English-German joint venture, Tsingtao Brewery was acquired by the Dai Nippon Brewery in 1916 when the Japanese took control of Shandong province. China’s most famous beer brand remained under Japanese ownership until ...

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