Beijing Automotive Industry Corp (BAIC) has joined Geely in the competition for the acquisition of Ford’s Volvo brand. BAIC executives may visit Volvo’s Swedish headquarters as early as Thursday to begin due diligence on the acquisition target. BAIC’s interest in the firm comes as the bidding for Volvo has been narrowed down to three or [...]
Sovereign wealth fund China Investment Corp (CIC) may buy a 3-5% stake in Italian energy group Enel potentially worth US$1.6 billion, according to a report in Italy’s La Stampa. CIC is reported to be interested in buying “a significant stake” in Enel Green Power, the firm’s renewable energy division. Enel hopes to sell up to [...]
Sportswear retailer 361º International announced that it is hoping to raise at least US$200 million in a Hong Kong initial public offering. The company intends to use the money to fund expansion, including the addition of 1,500 new outlets by the end of 2010, for a total of 7,000 stores. China’s largest sportswear retailer, 361º [...]
China WindPower Group is planning to invest US$73.1 million into each of 10 different wind generation projects. The projects would see China WindPower’s capacity increase almost four times to 268 megawatts by March 2010. The company will hold stakes of 25-60% in each project. China’s wind power capacity has nearly doubled in each of the [...]
The China Securities Regulatory Commission (CSRC) announced that it wants to increase the number of shares available for trading as part of a new set of rules on new-share offerings. The rules follow a draft published on May 22, in which the CSRC sought market opinion, and which fueled expectations that initial public offerings would [...]
Prices for iron ore imports into China are at their highest levels in nearly four months. Worries that Chinese steel mills won’t be able to secure more significant cuts in contract prices for ore than Japanese and South Korean mills have helped to push prices up. Spot prices for ore delivered to China rose 11% [...]
China Minmetals has increased its bid for the assets of Australian Miner OZ Minerals 16% to US$1.39 billion. While Minmetals’ existing bid had been endorsed by OZ’s board and was due to be approved by a shareholder vote on Thursday, the Chinese firm decided to up its offer to stave off potential competition from investment [...]
