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China Resources Beer explores possibility of minority stake in the Asian unit of world’s largest brewer

China Resources Beer, maker of the world’s bestselling beer Snow, said on Friday it is exploring the possibility of acquiring a minority stake in Budweiser APAC, the Asian unit of Belgian-based Anheuser-Busch InBev.“We’re paying close attention to this issue and evaluating its business, but we have yet to decide whether we are interested and if [the acquisition] will fit into the expansion plans for China Resources Beer,” executive director and chief executive Hou Xiaohai said in response to a… Source link

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Tencent in talks to buy stake in Universal Music, label behind Lady Gaga, Ariana Grande, Bruce Springsteen

French media conglomerate Vivendi said on Tuesday Chinese technology giant Tencent Holdings was in preliminary talks to buy a 10 per cent stake in Universal Music Group (UMG), which counts Lady Gaga, Lana Del Rey and Taylor Swift among its artists.The transaction, if completed, would value the music label at €30 billion (US$33.6 billion). Tencent would have a one-year call option to acquire an additional 10 per cent of the business at the same price and terms, Vivendi said.It comes just over a… Source link

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Bank of Jinzhou gets Chinese state backing as ICBC and other financial institutions buy more than 17.3 per cent stake in it

China’s Bank of Jinzhou won government-backed reinforcement on Sunday as three state-controlled financial institutions said they would take at least 17.3 per cent in the troubled lender, whose shares have been suspended since April.Industrial and Commercial Bank of China (ICBC), the country’s largest lender by assets, and China Cinda Asset Management and China Great Wall Asset Management, two of China’s four largest distressed debt managers, said on Sunday they would take stakes in Bank of… Source link

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PepsiCo bets on healthy living, acquiring 26 per cent stake in China’s second-largest health food producer

American beverage and snacks giant PepsiCo has agreed to buy a 26 per cent stake in Natural Food International, reflecting a strategic tie up with China’s second-largest health food producer at a time when rising affluence is leading to change in dietary habits in the world’s most populated consumer market.Natural Food said in a Hong Kong exchange filing on Friday that PepsiCo would spend HK$1.02 billion (US$131 million) to buy 566.5 million shares, equivalent to a 25.8 per cent stake, from a… Source link

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China 

China’s government mulls special stake in wallstreetcn.com as it looks to control the flow of information on trade, economics

The Chinese government is trying to extend its oversight of sensitive subject matters to trade, economics and business – in addition to politics, religion and race – by muscling in on the ownership of private media organisations.The Cyberspace Administration of China (CAC), which regulates the country’s internet, smartphone applications and websites, is working on a plan to take a minority stake with super voting power in Shanghai Aniu Information Technology, the operator of the wallstreetcn… Source link

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A shareholder’s stake sale plan stops the bull run in China’s best-performing brokerage stock CSC Financial

The bull run in CSC Financial, this year’s best performer among China’s brokerage stocks, was stopped in its tracks as a disposal plan by its fourth-biggest shareholder raised concern that the country’s financial-services companies may already be overvalued.Citic Securities, China’s largest public traded broker, said it plans to sell 427 million shares, or 5.6 per cent of CSC Financial, in the secondary market in the next six months to meet its operational needs, according to a June 25… Source link

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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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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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