China Cinda Asset Management Co Ltd, the country's biggest bad debt manager, is set to raise $2.5 billion after pricing its Hong Kong IPO at the top of the marketing range, a source with direct knowledge of the plans said on Thursday.
Corporations
China Mobile inks deal with Apple to offer iPhone
China Mobile Ltd. has reportedly entered a deal with Cupertino-based tech giant Apple Inc. to offer iPhones to its more than 700 million subscribers. China Mobile earlier this week received its 4G license from the Chinese government.
Hayman Capital acquires stake in General Motors Co- source
A source told Reuters that hedge fund Hayman Capital has acquired a stake in General Motors and believes that the stock price of the automaker will soar once the US Treasury has exited its remaining stake in the firm.
General Motors looks to sell stake in Ally Financial
General Motors Corporation LLC is looking to put up for sale the last of its holdings in Ally Financial Inc. via a private placement. Ally, GM's financing arm, is reportedly eyeing an initial public offering.
New fund aiming to back businesses run by UK veterans
Venture capital trust Time:Reboot VCT plans to raise around GBP20 million by the end of April 2014 to invest exclusively in firms run by UK military veterans.
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Sydney-based Westfield Group agreed to acquire the 50% stake held by the Port Authority of New York and New Jersey in the retail space of the World Trade Center site for USD 800 million.
HomeAway, a Texas-based online marketplace for vacation rentals bought Stayz Group, the publisher of Stayz.com.au from Fairfax Digital in an all-cash deal worth USD 198 million.
In a 254-159 vote, the US House of Representatives passed a legislation exempting private equity firms from provisions in the 2010 Dodd-Frank Wall Street Reform Law. However, a similar action is not expected from the Democrat-dominated US Senate.
Russian businessman Alexei Khotin could make a takeover offer for London-listed Exillon Energy Plc, a company controlled by Khotin said, setting the stage for a possible bidding war with the oil producer's second-largest investor.
Molex Incorporated Announces Receipt of Final Merger Control Clearance for Merger with Koch Industries, Inc.
According to Tingyi Holding Corp Chief Financial Officer Frank Lin, his company could form more corporate alliances or strategic purchases next year in mainland China.
German medical supplies manufacturer Gerresheimer on Wednesday confirmed that it is no longer vying for UK-based Rexam's healthcare packaging unit. The company said the healthcare business did not fulfill its acquisition requirements.
Real estate major Shui On Land Ltd. is divesting its entire stake in the company that operates the Taipingqiao project in Shanghai for USD545 million. The Chinese property company is selling its assets to repay debt and improve its financial position.
Google acquired seven robotics firms in the past six months to create manufacturing and logistics robots for a project under Android founder Andy Rubin to compete with Amazon's flying delivery drones.
