WesTrac China Limited has reached an agreement to acquire the distribution and support businesses of Caterpillar Global Mining in a deal valued at around USD130 million.
Tags: China
Goldman Sachs grants $120 million pre-IPO loan to Chinese warehouse firm
Investment bank Goldman Sachs Group will provide a $120 million loan to Warburg Pincus-backed warehouse firm e-Shang. e-Shang reportedly plans to go public in the next few years.
Han's Laser purchases Israel's Nextec as overseas expansion effort
China-based professional laser equipment manufacturer Han's Laser Technology Co bought Israel-based Nextec Technologies in its effort for expansion amid slow growth in the Chinese laser measurement devices market.
Ernst & Young director approves Bitcoin, says has potential to be a game-changer
EY director Colin Pickard said Bitcoin has the potential to be a game changer in the financial services industry as long as governments start regulating the digital currency.
Yahoo poised to incur gains with Alibaba IPO - report
Internet giant Yahoo Inc. could raise around $36 billion should it decide to divest its entire 24% stake in Chinese e-commerce company Alibaba. Yahoo will be forced to sell much of its stake if and when Alibaba sells its shares in an IPO.
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Australia-based energy company Ambassador Oil and Gas Ltd has sold its 52.5% stake in South Australia's Cooper Basin, a potential gas field, to New Standard Energy Ltd for USD42.5 million.
Tightening monetary policy in China has been reduced due to the slowing yearly consumer inflation rate of 3% in November from 3.2% the month before, said a Reuters report.
A Bloomberg report noted that China's massive CNY2.6 trillion or USD427 billion corporate debt is due next year, indicating a possibility that the country could default on its payments for the first time.
Chinese state-owned firms are expected to lead the initial public offerings in the mainland next year after the lifting of the temporary ban on public share sales by the government, according to sources interviews by Bloomberg.
Bank of America Merrill Lynch has dropped its offer to advise Turkey's Aselsan on a planned secondary listing. The Turkish defense contractor recently closed a deal with a Chinese firm under US sanctions.
Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
Carlsberg Group reportedly purchased a 30.3% stake in joint venture partner Chongqing Brewery. The Danish brewer hopes to expand its presence in China's USD76 billion liquor market.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
