How will Baoneng boss Yao Zhenhua do, now that Vanke’s stock is sliding?
The battle for control of China Vanke has entered a new stage after China’s insurance regulators clamped down on leveraged buyout attempts by Baoneng and Evergrande. Now the industry can spend the holiday season watching what happens when high yield debt sales meet sliding stock prices. Also in the headlines, while Teslas are sexy, it may be teeny-tiny electric cars that reshape China’s cities, and CapitaLand Commercial Trust puts a Singapore commercial site on the market. Read on for all these stories and more.
China Vanke Loses $10B in Value as Regulators Squelch Takeover Battle
Shares of China Vanke Co. are tumbling as a crackdown on leveraged buyouts complicates a takeover battle for the nation’s largest listed property developer.
The Shenzhen-based company has plunged 23 percent in Hong Kong this month, the biggest loser among the 149 members of the MSCI China Index, to erase $10 billion of market value. Read more>>
Chinese Buyers Expected to Continue Overseas Binge
The trend of Chinese capital going out for real estate investment will continue in 2017 despite some short-term market volatility brought by the country’s latest vow to monitor capital outflow, global property advisor JLL said.
“Investing overseas is a strategic move for most Chinese investors,” said Stuart Crow, JLL’s head of Asia Pacific capital markets. “While there may be some short-term slow-down or delay, we expect few long-term structural changes.” Read more>>
Will Golf Carts Reshape China’s Cities?
As nations around the world struggle to halt the Earth’s rising temperature, China has made the transition to low-carbon transport a priority. As part of the effort to develop low-emission vehicles, national electric car manufacturers have enjoyed significant support from the Chinese government. Yet their sales are dwarfed by those of a pint-sized competitor: the low-speed electric vehicle.
Despite the name, low-speed electric vehicles (LSEVs) aren’t actually that slow. With a top speed of 60km/h, they’re fast enough for getting around big and heavily congested cities. Read more>>
CapitaLand Commercial Trust Puts S$293M SG Project on the Market
CapitaLand Commercial Trust is putting retail and office space at mixed-used development Wilkie Edge in the Selegie area up for sale. The space will be sold through an expression of interest exercise closing on Jan 19.
Cushman & Wakefield has been appointed as the exclusive marketing agent, the real estate services firm said yesterday. Read more>>
Wanda’s AMC Wins US Approval for Carmike Theatre Deal
AMC Entertainment Holdings has won U.S. antitrust approval to buy smaller Carmike Cinemas in a $1.2 billion deal that would create the biggest U.S. movie chain.
The Justice Department announced on Tuesday that it approved the deal on condition that AMC and Carmike divest theaters in 15 markets and sell most of its holdings in National Cinemedia, among other conditions. Read more>>
Fu Wah Enters JV for Cross-Border Culture Deals
Puji Capital and Fu Wah International Group announced in Hong Kong the launch of a new joint venture – Pulong Capital that is focused on strategic investment opportunities in China’s high-growth sectors including tourism, real estate, consumer lifestyle, and technology in Greater China.
Fu Wah is a Beijing-based global family investment group. Mrs. Chan Laiwa, the Chairman of Fu Wah, was reported as China’s richest woman by the Hurun Rich List in 2016, and has been ranked as one of the top five richest women in China for more than 10 consecutive years. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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