Source:
https://scmp.com/business/article/1990310/driving-force-behind-baonengs-assault-vanke
Business

The driving force behind Baoneng’s assault on Vanke

Shenzhen tycoon Yao Zhenhua’s bid to take over China’s biggest housebuilder is his boldest, and arguably most aggressive, move yet

Yao Zhenhua, founder of Baoneng Group.

Until late last December, Baoneng Group was largely a little-known Guangdong business.

But since then, it has very quickly emerged from the corporate shadows, after launching an unsolicited bid to take control of China’s largest housebuilder, China Vanke, triggering what has now become one of the country’s most intriguing and dramatic takeover battles.