Fiat raising US$10b for full move on Chrysler

Sergio Marchionne, Fiat and Chrysler chief executive

Fiat is in talks for as much as US$10 billion in financing from a pool of banks to buy the Chrysler stake it doesn't own and refinance the two firms' debt, people familiar with the matter said.

Friday, 31 May, 2013, 4:41am

PCD rallies on buyout bid

A store operated in Xiamen by PCD Stores. The company's stock rose 9.17 per cent yesterday. Photo: SCMP

The shares of high-end department store operator PCD Stores rose strongly yesterday after an announcement that the parent company of Beijing's largest retailer has launched a takeover bid with a planned purchase of a 39.53 per cent stake in the firm.

2 Feb 2013 - 4:25am

Foreign expansion ambitions to boost China M&A

Sinopec spent US$2.5 billion on the acquisition of a Nigerian offshore project from French energy company Total last year. Photo: Bloomberg

China's merger and acquisition (M&A) activity is expected to rebound this year, driven mainly by the overseas expansion ambitions of privately owned companies in the retail and consumer goods sector, global accounting firm PricewaterhouseCoopers (PwC) said yesterday.

31 Jan 2013 - 5:20am

2013: Hong Kong's year of regulatory reform

Secretary for Financial Services and the Treasury Professor Chan Ka-keung

Happy New Year to all readers of White Collar. Last year marked a plethora of reforms and challenges for many listed companies, accountants, investment bankers, even the stock exchange and the regulator.

1 Jan 2013 - 4:13am

Fubon Financial to buy majority control of First Sino Bank

First Sino was set up in 1997 to help Taiwanese firms raise funds.

Fubon Financial Holding, the second-largest publicly traded financial group in Taiwan, will buy majority control of First Sino Bank, in what is the largest acquisition of a mainland business by a Taiwanese investor.

28 Dec 2012 - 4:14am

Beihai Port beefs up for trade boom

Beihai Port aims to become a super port in the Beibu Gulf Economic Zone with the takeover of two other ports in the gulf as trade with Asean booms. Photo: SCMP Pictures

Beihai Port will acquire two other ports and a tugboat company on the mainland for 5.18 billion yuan (HK$6.41 billion).

It will also raise 1.73 billion yuan to boost booming trade between the Guangxi region and members of the Association of Southeast Asian Nations.

15 Dec 2012 - 4:19am

HKEx drives on with new offering to fund LME takeover

The London Metal Exchange

Hong Kong Exchanges and Clearing is making its first share offering since it was listed, aiming to raise US$800 million following the British regulator's approval yesterday for HKEx's takeover of the London Metal Exchange.

The Financial Services Authority gave the go-ahead for HKEx's £1.39 billion (HK$17.24 billion) bid for the LME, the world's biggest metal exchange.

30 Nov 2012 - 3:31am

HSBC may quit South Korean retail banking sector

HSBC began business in Korea more than a century ago.

HSBC Holdings is considering closing its South Korean retail operations, the Yonhap news agency reported, citing unidentified industry officials and regulators.

30 Nov 2012 - 2:53am

CNOOC resubmits bid for Nexen to US regulators

CNOOC has withdrawn and resubmitted its bid for Canada's Nexen to United States regulators for approval. Photo: Bloomberg

Chinese oil and gas giant CNOOC has withdrawn and resubmitted its C$15.1 billion (HK$117.8 billion) bid for Canada's Nexen to United States regulators for approval.

29 Nov 2012 - 3:46am

Real work begins after gaining the LME

There have been doubters but Charles Li is not going to just sit there and do nothing. Photo: Bloomberg

Hong Kong Exchanges and Clearing's proposed takeover of London Metal Exchange could well be the quickest way for it to diversify but it is also the biggest gamble the local bourse has ever taken.

However, it was hardly a surprise to brokers, who link the move to HKEx chief executive and former investment banker Charles Li Xiaojia's penchant for deal making.

16 Nov 2012 - 2:47am

'State-sponsored' Chinese hackers blamed for Coca Cola cyberattack

Coca-Cola fell victim to cyberattacks in 2009. Its bid to take over the biggest fruit juice firm in China was eventually canned. Photo: Bloomberg

FBI officials quietly approached executives at Coca-Cola in March 2009 with some startling news.

6 Nov 2012 - 3:49pm

Sumitomo bid for bigger stake could be BEA's saviour

The Li family faces a threat over the control of Bank of East Asia.

Japanese lender Sumitomo Mitsui's expected bigger stake in Bank of East Asia could help the Hong Kong family-controlled bank fend off hostile takeovers, analysts said.

3 Nov 2012 - 3:22am

Virgin Australia cashes up to mount Qantas challenge

Virgin Australia is seeking a 60 per cent stake in Tiger Airways.

Virgin Australia sold a 10 per cent stake to Singapore Airlines and sought control of two local rivals, creating the biggest challenge to Qantas Airways' market leadership in more than a decade.

31 Oct 2012 - 3:11am

CNOOC's US$15b takeover bid wins approval from Nexen investors

Nexen's deal still needs approval from the Canadian government.

Nexen's shareholders approved CNOOC's US$15.1 billion bid for the Canadian oil and natural gas producer, the biggest foreign takeover by a Chinese company.

21 Sep 2012 - 2:46am

Hutchison calls off deal to take over Scailex

Israeli firm Scailex owns 44.5 per cent of Partner Communications, which operates under the "Orange" brand. Photo: Bloomberg

Li Ka-shing's flagship conglomerate Hutchison Whampoa and his namesake charitable foundation have cancelled a US$125 million deal to acquire a majority stake in Scailex, the parent of Israeli mobile and fixed-line network operator Partner Communications.

22 Aug 2012 - 4:21am