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Kane Wu

HNA sells majority stake in Manhattan building in $422 million deal

09 Jan 2019

HONG KONG Chinese conglomerate HNA Group [HNAIRC.UL] on Wednesday said it had sold a majority stake in a Manhattan building in a $422 million deal, the latest in a slew of asset disposals undertaken by the group to ease an intensifying cash crunch.

HNA sells majority stake in Manhattan building

09 Jan 2019

HONG KONG, Jan 9 Chinese conglomerate HNA Group on Wednesday said it had sold a majority stake in a Manhattan building, the latest in a slew of asset disposals undertaken by the group to ease an intensifying cash crunch.

EV startup Byton aims to raise $500 million to fund growth - sources

08 Jan 2019

HONG KONG Chinese-funded electric vehicle manufacturer Byton is seeking to raise at least $500 million to finance growth, valuing the nearly three-year-old company at more than $4 billion, two people familiar with the matter told Reuters.

Asia M&A clocks second best on record, strength to persist despite trade troubles

21 Dec 2018

HONG KONG Asia Pacific M&A volumes clocked their second-highest level on record this year and dealmakers are optimistic the momentum will persist into 2019, with inbound deals into China emerging as a strong theme amid political and macroeconomic headwinds.

Bain Capital closes new Asian fund at $4.65 billion: source

18 Dec 2018

HONG KONG Global private equity firm Bain Capital LLC has closed its new Asia-focused fund at $4.65 billion, a person with direct knowledge said on Tuesday, exceeding its target and adding to the region's already record-high dry powder.

Exclusive: China Development Bank supervising HNA asset sales - sources

14 Dec 2018

HONG KONG/BEIJING China Development Bank (CDB) is leading a team to supervise HNA Group's asset disposals as the heavily indebted conglomerate scales back operations to a point that will leave it holding only core assets, people familiar with the situation said.

China's AI start-up Megvii raising $500 million at $3.5 billion valuation: sources

10 Dec 2018

HONG KONG Chinese artificial intelligence provider Megvii Inc, commonly known as Face++, is targeting to raise $500 million in a new funding round that pegs the current valuation of the firm at $3.5 billion, people with knowledge of the matter said.

Finland's Amer Sports close to signing $5.2 billion takeover deal by Anta-led consortium: source

06 Dec 2018

HONG KONG Finland's Amer Sports is close to signing a $4.6 billion euro ($5.2 billion) deal to be taken over by a consortium led by China's Anta Sports , said a person with direct knowledge of the transaction.

SoftBank's Vision Fund to hire China team, set up mainland office - sources

05 Dec 2018

HONG KONG The SoftBank-led Vision Fund is hiring an investment team to be based in China as the $100 billion (£78.6 billion) investment giant expands in one of the world's most vibrant tech markets, two people with direct knowledge of the move told Reuters.

World News

As shutdown lingers, Pelosi asks Trump to delay State of Union address

With the partial U.S. government shutdown dragging into its 26th day, House Speaker Nancy Pelosi on Wednesday urged President Donald Trump to reschedule his State of the Union address - a move that could deny the president the opportunity to use the pageantry of the speech to attack Democrats in their own chamber over the impasse.