Vietnam 

Mitsui raises Minh Phú Seafood stake to 35 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers on a processing line at a Minh Phú Seafood factory. The company has confirmed its shrimp products are still entering the US as normal. — Photo soha.vn HÀ NỘI  MPM Investments Pte Ltd, a subsidiary of Japan’s Mitsui & Co Ltd, has acquired 60 million shares in Minh Phú Seafood Joint Stock Company (MPC) to raise its stake in the Vietnamese shrimp processor to 35.1 per cent. The purchase was made through a private placement worth nearly VNĐ3.04 trillion (US$130.5 million), equivalent to VNĐ50,630 per share, a 40.6 per cent premium…

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Vietnam 

Vinamilk ups stake to 38.3% in GTNFoods – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Photo shows Vinamilk’s cattle farm in the southern province of Tây Ninh. — VNA/VNS Photo Lê Đức Hoảnh HÀ NỘI — The Vietnam Dairy Products JSC (Vinamilk) has acquired more than 90 million shares in GTNFoods JSC to raise its ownership to 38.34 per cent. Vinamilk has increased its ownership in GTNFoods to 95.8 million shares from nearly 5.8 million shares or 2.32 per cent of GTNFoods’ capital. On April 11, Vinamilk offered to buy 116.7 million GTNFoods shares in order to expand its ownership to 49 per cent for…

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Home 

Huawei to sell 51pc stake in undersea cable business after US trade blacklist

Huawei Technologies is selling its majority slice of its global submarine cable division, exiting the business of laying undersea piping for the internet just weeks after the Trump administration blocked the Chinese firm from buying American technology.The corporate parent of Huawei is selling its 51 per cent of Huawei Marine Networks to Hengtong Optic-Electric Co, a Jiangsu-based optical-cable manufacturer, according to a stock exchange filing. The deal is not formalised and subject to change,… Source link

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Vietnam 

Vinalines buys backs 75% stake in central port – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Container area in Quy Nhơn Port. Vinalines has paid VNĐ415 billion (US$17.8 million) to reacquire a 75 per cent stake in Quy Nhơn Port JSC from Hợp Thành Investment & Mineral JSC. — Photo baodautu.vn HÀ NỘI – State-owned Vietnam National Shipping Lines (Vinalines) has paid VNĐ415 billion (US$17.8 million) to reacquire a 75 per cent stake in Quy Nhơn Port JSC, which it had sold illegally to Hợp Thành Investment & Mineral JSC without the Government’s approval. Vietnam Depository Centre has recorded the transfer of ownership to Vinalines. The shipping group…

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Macau gambling tycoon Stanley Ho’s son buys 20pc stake in Australia’s Crown Resorts for US$1.3 billion

Australian billionaire James Packer has sold nearly half his stake in Crown Resorts casinos to Lawrence Ho, son of Macau gambling tycoon Stanley Ho, for A$1.8 billion (US$1.3 billion).Packer’s investment company, Consolidated Press Holdings, said late on Thursday that the sale to Lawrence Ho’s Melco Resorts and Entertainment involved 19.99 per cent of Crown Resorts, bringing its holding in the group down to 26 per cent.Packer, who stepped down from the Crown board last year to deal with what… Source link

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Swire Pacific’s property arm to sell its 50 per cent stake in 625 King’s Road for US$303 million

Swire Pacific’s property unit has reached an agreement to sell its entire 50 per cent stake in the owner of a commercial building in Hong Kong for HK$2.38 billion (US$302.6 million).Swire Properties will sell its stakes in Island Land Development, which owns 625 King’s Road, a 26-storey tower in North Point, the parent company said in an exchange filing on Tuesday night. Swire Properties will record a gain of as much as HK$1.76 billion from the sale to Jacko Rise Pte and the proceeds will be… Source link

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Vietnam 

Vingroup sell US$1 billion stake to South Korean firm – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Vingroup and SK’s leaders at the agreement signing ceremony on Thursday. — Photo courtesy of Vingroup HÀ NỘI — Việt Nam’s real estate, tech and retail conglomerate Vingroup JSC (Vingroup) yesterday signed a billion dollar deal with the Republic of Korea’s SK Group. The South Korean technology and telecommunication firm will acquire 154.3 million primary shares in Vingroup and 51.4 million shares of the Vietnamese firm’s VinCommerce for VNĐ23.3 trillion (US$1 billion) or VNĐ113,000 per share. After the transaction, SK will own a 6 per cent…

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Money 

JPMorgan poised to be first foreign company to own majority stake in China mutual fund venture

JPMorgan could become the first foreign company to own a majority stake in its Chinese mutual fund business, after its joint venture partner put a crucial 2 per cent of the business up for sale that analysts expect the Wall Street bank to lap up.A move by JPMorgan towards that goal would come at a tense time in US-China ties, as Chinese Vice-Premier Liu He is set to continue trade negotiations with the United States that were roiled after President Donald Trump said on Sunday he would raise… Source link

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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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