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M&A

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Working in tandem

Didi Chuxing invests in “bicycle-on-demand” service
Oct 7, 2016 (WiC 342)

“There are nine million bicycles in Beijing,” sang the Georgian-British pop star Katie Melua. “That’s a fact.” But of course it probably wasn’t: according to Xinhua, even by 1989 there were only about four million bicycles in the ...

Cream of the crop

Is dairy products giant Yili set for a takeover by Sunshine Insurance?
Sep 30, 2016 (WiC 341)

Plenty of tycoons aspire to the title of China’s Warren Buffett. Increasingly, the country’s insurers seem to be modelling themselves on Buffett’s firm Berkshire Hathaway, using their insurance income to fund wider ambitions. The ...

Transformers, the sequel

Three Chinese white goods giants buy abroad – which got the best deal?
Sep 9, 2016 (WiC 339)

In 1859 a French physicist by the name of Gaston Plante invented the world’s first rechargeable battery by separating two sheets of lead with linen cloth that had been soaked in sulphuric acid. Back then, batteries had an energy density of ...

Taking their medicine

Baoneng versus China Resources again, this time in donkey tonic?
Sep 2, 2016 (WiC 338)

China Resources has a reputation for being one of China’s most illustrious state-owned firms. It was founded in 1938 as Liow & Co in Hong Kong, with a mission to procure military supplies for the Communist Party. It took over a number of ...

All friends now

Uber China bows out to Didi Chuxing in M&A deal
Aug 19, 2016 (WiC 336)

Barbara Tuchman’s The Guns of August is one of the more famous histories of how the First World War started. But this month its title might also be aptly applied to describe not the start but the cessation of a war – in this case between two ...

Hostile behaviour

Is Minsheng Bank being sucked into a takeover war?
Jul 29, 2016 (WiC 335)

The Yangtze River waterway between Chongqing and Shanghai was once the key artery of the Chinese economy. The competition between the navigation companies that transported people and goods along that section of the river was fierce, but that ...

Batteries are included

Why Samsung has decided that it needs to invest in carmaker BYD
Jul 22, 2016 (WiC 334)

After Warren Buffett splashed $230 million on a 10% stake in BYD in 2008, the wily Nebraskan looked to have struck a rapport with the Chinese carmaker’s chairman, Wang Chuanfu. The world’s most famous investor subsequently showcased ...

Prince of popcorn buys again

Wanda continues cinema spree with Odeon & UCI takeover in UK
Jul 22, 2016 (WiC 334)

The Guinness World Record for the longest running cinema belongs to a former tea house in Beijing, where high society once watched Chinese opera over tea and dim sum. It was run by Ren Qingtai, a local tycoon who also managed a studio ...

How a herbal tea brand ended up in one of China’s worst legal battles
Jul 8, 2016 (WiC 332)

During the Summer Davos Forum in Tianjin last week more than 300 foreign delegates were invited to a special ‘Guangzhou Night’. To accompany the traditional Cantonese cuisine, the beverage of choice was the herbal tea Wanglaoji, provided by ...

Unite the clans

Tencent swoops for Softbank’s stake in game maker Supercell
Jul 1, 2016 (WiC 331)

In 2013 Softbank struck a deal to buy a 70% stake in the American telco Sprint Nextel for $22 billion. It was Japan’s biggest overseas acquisition but it hasn’t worked out. Sprint has been losing share in the US and its debt has ballooned to ...

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