Singapore-based lender Oversea-Chinese Banking Corp (OCBC) will spend around CNY1.8 billion ($298 million) to increase its stake in China-based firm Bank of Ningbo Co from 15.34% to 20%.
China
Alibaba-backed UCWeb Inc plans on acquisitions to challenge competition
UCWeb Inc, a company backed by Alibaba Group Holdings, is looking at acquisitions to add more programmers and platforms so it can better compete with its rivals, Bloomberg reported.
Chinese private equity firm Hony Capital Ltd mulls possible offer for United Biscuits Holdings Ltd- sources
Hony Capital Ltd, a Chinese private equity firm, is mulling a potential bid for United Biscuits Holdings Ltd owned by Blackstone Group and PAI Partners, according to sources interviewed by Bloomberg.
Forbes attracts Germany's Axel Springer and other bidders -report
New York, US-based firm Forbes Media attracted the attention of six different bidders including Germany-based multimedia company Axel Springer.
China-based 58.com Inc plans on acquisitions to improve services
Beijing-based 58.com Inc, a classifieds website operator that provides services similar to Craigslist, intends to acquire Chinese Internet companies to enhance its local information services, Bloomberg reported.
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China based mobile app distribution platform Wandoujia raised $120 million in a recent funding round led by SoftBank Corp, for the acceleration of its growth and development of its mobile search technology.
The Chinese Securities Regulatory Commission will be supervising companies scheduled to hold their IPOs more strictly as it plans to hold spot checks for investor roadshows, Bloomberg reported.
Power Assets Holdings, the firm controlled by Li Ka-shing, has reduced the initial public offering size of Hong Kong's second largest power supplier, HK Electric Investments, Bloomberg reported.
Judge Kevin Gross of the US Bankruptcy Court in Wilmington, Delaware on Friday rejected a planned sale of Fisker Automotive to Hong Kong businessman Richard Li. Gross ruled in favor a competitive bidding between Li and Chinese auto parts maker Wanxiang Group instead.
China-based automotive glass supplier Fuyao Glass Industry Co will pour in a $200-million investment to build a manufacturing facility at the former assembly plant of General Motors (GM) in Ohio, US.
Private equity firm CVC Capital Partners will invest over $200 million for a stake in Chinese education company EIC Group. CVC will buy the stake from rival investment firm Actis Capital.
International Entertainment Corp said it would be acquiring a 70% stake in Macau gambling junket operator Sun City Gaming Promotion Co for HK$7.35 billion, Bloomberg reported.
Shandong, China-based cotton and yarn manufacturer Shandong Ruyi Technology Group Co Ltd will invest $2 billion in the energy and textile sectors of Pakistan over the next two years.
The insurance unit of Portugal's Caixa Geral de Depositos SA will be acquired by China's Fosun International Ltd in a deal worth €1 billion, Reuters reported.
