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Credit Suisse to take controlling stake in Chinese securities joint venture

Credit Suisse said on Monday that its plans to take a controlling stake in its securities joint venture in China, the latest overseas firm to take advantage of Beijing’s efforts to further open the country’s financial services industry.China announced in 2017 that it would allow foreign banks to own majority stakes in their securities joint ventures as part of an effort to open up its banking sector. UBS was the first foreign bank to receive approval from regulators in November to increase its… Source link

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Singapore investment holding firm United Industrial raises stake in Marina Centre for S$485 million

United Industrial Corporation, a subsidiary of UOL Group, is acquiring a further 24.27 per cent stake in indirect subsidiary Marina Centre Private Holdings (MCH) for S$485.3 million (US$358.86 million), to be paid in cash. It already owns a 53.07 per cent stake in MCH.The acquisition is being made through the purchase of shares from the following vendors – 10 per cent from OUE for S$200 million, 10.27 per cent from Finnegan Investments for S$205.3 million and 4 per cent from Mackmoor for US$80… Source link

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Vietnam 

GAS to increase stake in PV Gas South to 51% – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Although holding less than 51 per cent, GAS has long been recognised as the parent company of PGS. — VNS Photo HÀ NỘI — PetroVietnam Gas JSC (GAS) has approved a plan to increase its capital contribution in the Petrovietnam Southern Gas JSC (PGS) to 51 per cent of the company’s charter capital. GAS is currently the largest shareholder in PGS with 35.3 per cent of capital, followed by MB Capital, an investment arm of Military Joint Stock Commercial Bank, with 5.98 per cent of capital. To increase ownership to 51…

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Gree Electric shoots up to daily limit as state parent seeks to sell US$6.2 billion stake in ownership shake-up

Gree Electric Appliances surged by the daily limit after the state-owned parent seeks to sell almost its entire stake in China’s biggest maker of air conditioners, a move that analysts said will further improve corporate governance by more aligning the interest between the management and shareholders.The shares jumped by 10 per cent to 51.93 yuan in Shenzhen on Tuesday morning trading, as the stock resumed trading after being suspended over the past five days. Zhuhai Gree Group, Gree Electric’s… Source link

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Is ‘Iron Lady’ Dong Mingzhu’s Gree Electric facing an ownership shake-up? Air con giant plans partial stake transfer

Gree Electric Appliances, the air conditioner giant chaired by one of China’s best known and toughest businesswomen, said its state-owned controlling shareholder was planning a “partial stake transfer”, which could result in a change of the ownership structure.Gree Electric is controlled by the Zhuhai city government, which owns 100 per cent of the Gree Group. Gree Group was the biggest shareholder of Gree Electric with an 18.22 per cent stake as of the end of September.The company’s biggest… Source link

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Vietnam 

Taiwanese firm buys 20 per cent stake in Đà Nẵng Port – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A ship anchored at Đà Nẵng Port. The port company has announced its principle shareholders had sold a 20 per cent stake to Taiwanese shipping firm Wan Hai Lines. — VNA/VNS Photo Lê Lâm Viet Nam News HÀ NỘI — Taiwanese shipping company Wan Hai Lines has acquired a 20 per cent stake in Đà Nẵng Port JSC to become the new principle shareholder of the Vietnamese port. The Taiwanese firm purchased Đà Nẵng Port shares through its sub-unit Wan Hai Lines (Singapore) Pte Ltd. Wan Hai…

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Tencent’s biggest investor Naspers to spin off 31pc stake to form Europe’s largest listed consumer internet group

Naspers, the biggest investor of Chinese technology giant Tencent Holding, is spinning off its main internet businesses in Amsterdam in a push to boost its value.The units that the South African company will list on Euronext Amsterdam include its 31 per cent stake in Hong Kong-traded Tencent, which runs the world’s biggest video games business by revenue and China’s largest social media operation, as well as holdings in Russian internet platform Mail. Ru, German food delivery business Delivery… Source link

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Chinese firm offers to sell stake in Airbus’ hometown Toulouse-Blagnac airport while Xi heads to France to drum up investments

An aerial view of the Toulouse-Blagnac airport in southern France, the country’s third-largest airfield and the hometown airport used by Airbus and ATR to test their aircraft. Chinese company, which bought 49.99 per cent of the airport in 2014, is putting the stake up for sale. Photo: SCMP/Handout Source link

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Vietnam 

Warburg Pincus wants to cut Vincom Retail stake by third – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The US-based Warburg Pincus wants to sell a third of its holding, equal to 50 million shares, in Vietnamese real estate and retail firm Vincom Retail, Bloomberg has reported. The share package is valued at US$78 million, or VNĐ35,100-VNĐ36,550 (US$1.50-1.57) per share. Vincom Retail is a member of the giant real estate-technology-retail corporation Vingroup. The company has more than 2.3 billion shares on the Hồ Chí Minh Stock Exchange (HoSE: VRE). The company’s shares fell 4.1 per cent to…

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Tencent to consider bid for US$3 billion AS Watson stake, as rival Alibaba shows interest

Chinese internet giant Tencent Holdings is weighing a bid for part of Temasek Holdings’ stake in global retailer AS Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 per cent stake in the world’s largest health and beauty retail group for about US$3 billion, according to the people, who asked not to be identified because the information is private. That is just under half of its 25 per cent holding.Shenzhen-based… Source link

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