As the Chinese government plans to consolidate production, Anhui Conch Cement Co said it plans to increase its capacity to 30 million metric tons through acquisitions, Bloomberg reported.
Asia/Pacific
OUE Commercial Trust mulls offering 6.8pct dividend yield for $315M IPO-sources
The OUE Commercial Trust, a spinoff from Singapore-based OUE Ltd, plans to give a yield of 6.8% for its $315 million IPO, according to sources interviewed by Bloomberg.
Singapore's OCBC unveils $100M China private equity fund
Singapore's Oversea-Chinese Banking Corp. Ltd. recently launched a $100 million private equity fund to invest in onshore Chinese companies over the next five years. The said fund will managed by OCBC Capital Equity Investment Management Co. based in Shanghai.
Medypal bags $400K in seed funding for more affordable healthcare in India
Bangalore, India-based healthcare marketplace Medypal bagged $400,000 in a seed funding round from Unitus Seed Fund to help patients in the country find good and affordable service providers.
Vitol Group mulls bid for Royal Dutch Shell's Australian downstream assets-sources
Geneva-based Vitol Group is thinking of making a bid for some of Royal Dutch Shell's downstream operations in Australia, according to sources interviewed by Bloomberg.
Latest News
As China's central bank makes regulations regarding digital currencies stricter, Alibaba Group Holding will be banning the sale of Bitcoin and other related products, Bloomberg reported.
Eastern Media International Corp., which currently owns a 30% stake in Eastern Broadcasting Co., is reportedly placing a bid to acquire Carlyle Group's entire 61% stake in Taiwan's largest broadcasting company.
Bangalore, India-based startup Little Eye Labs confirmed that it has been bought by social media giant Facebook for an amount between the range $10 million and $15 million.
Chinese billionaire Chen Guangbiao has dialed back his bid to acquire The New York Times Co. over a week after making his interest public, saying that the level of difficulty is great. Times chairman Arthur Ochs Sulzberger Jr. recently said that the prestigious media company is not for sale.
Japan-based food and beverage giant Kirin Holdings Ltd has no plans to sell its 9.99% holding in Warrnambool Cheese and Butter Factory Ltd to Canadian firm Saputo Inc as it wants to secure a cheese supply agreement with the latter.
Le Groupe Lactalis reportedly acquired India's Tirumala Milk Products for $275 million. Lactalis bought the 74% stake held by Tirumala Milk's founders and the remaining 26% from private equity firm Carlyle Group.
Oil and gas companies in the West, like that of Scotland-based Weir Group, are heading to China to bet on the birth of the country's shale gas industry, the Financial Times reported.
Bourbon, a Paris-based operator of supply and crew ships for the oil industry, sold a dozen vessels to China's ICBC Financial Leasing as part of its plan to make a dent on its debt, Bloomberg reported.
Alipay, an online payment affiliate of Alibaba Group Holdings Ltd., has struck a deal with Sina Corp. to launch and online payment service as competition rises between Alibaba and rival Tencent Holdings Ltd. Alibaba last year bought an 18% stake in Sina Weibo.
