Korea M&A Corporation

A Chinese holding company has sold its 43 per cent share of the parent firm of Chengdu Swellfun Co Ltd yesterday to a foreign invested alcohol maker, marking the first possible foreign entry into China's spirits industry. Chengdu Yingsheng Investment Holding Corp announced it would sell its 43 per cent stake in Chengdu Quanxing Group to the world's largest alcohol beverage manufacturer, Diageo H..

TOKYO (AP) - Japanese instant noodle maker Myojo Foods Co. said Tuesday it is opposed to a takeover bid launched by Steel Partners Japan, saying it would rather implement its own business plans.Steel Partners launched a 29.82 billion yen (US$253.96 million; euro199.7 million) takeover bid for Myojo Foods on Friday, still a rare move in a country where consensus and negotiation, not direct appeal..

LONDON, November 1 (newratings.com) – Japanese chip maker Toshiba Ceramics Co Ltd (ticker: TO3) Tuesday announced that it has received a buyout offer worth $774 million from private equity firms Carlyle Group and Unison Capital. Electronic goods manufacturer Toshiba Corp, which owns a 40% stake in the chipmaker intends to offload its stake as part of its attempts to focus its investments on flas..

Toshiba Corp. (TOSBF.PK) on Tuesday said it completed the acquisition of BNFL USA Group Inc. and Westinghouse UK Limited, after completing final arrangements with British Nuclear Fuels Limited on October 16. The company noted that the integration of Westinghouse into Toshiba would significantly contribute in elevating Toshiba's energy systems to a global level. The company further noted that it ..

Aeon Co. has said it will hold talks to buy a 15% stake in Daiei, which could create Japan's biggest retail group with combined sales of over 6trn yen ($50bn). The move would give the retailers strong procurement power and cost competitiveness and could trigger further consolidation in the industry. Aeon, Daiei, and Marubeni will also discuss the possibility of jointly developing private brands,..

CONSTRUCTION and property group, Sunway Holdings Bhd, is open to mergers and acquisitions (M&As) if the proposition makes good business sense. "It all depends on how attractive they are and we will seize the business opportunities," said Tan Sri Ramon Navaratnam, Sunway Group's corporate Adviser. Sunway was one of the firms that could attract M&As, based on its low valuations, analysts said. Whe..

Hokuetsu Paper Mills Ltd. said Tuesday it has reached a basic agreement to conclude an operational alliance with Nippon Paper Industries Co. Hokuetsu and Nippon Paper Industries, a wholly owned subsidiary of Nippon Paper Group Inc., plan to mutually supply products under each other's brands, jointly procure materials and fuel and streamline distribution systems. The two companies expect to achie..

China's snowballing foreign reserves should intensify its efforts to ensure natural resources, high technology and global brands through mergers and acquisitions in the global market, the central bank said in a report yesterday. The Bank of Korea forecast the nation's foreign reserves will surpass $1 trillion this month after posting $954.5 billion at the end of July. The massive foreign currenc..

TOKYO, Japan (UPI) -- MTV Networks, owned by Viacom Inc., will buy the remaining interest in joint venture MTV Japan from private equity firm H&Q Asia Pacific.The deal, whose value was not disclosed, is MTV Networks` largest such action in the Asia-Pacific region and gives it sole ownership of the Japanese venture, the company said Tuesday.Upon completion of the deal, MTV Networks will combine M..

(Xinhua) Updated: 2006-08-25 09:19 China Construction Bank (CCB) on Thursday inked an agreement with Bank of America (BOA) to acquire 100 percent of equity interest of Bank of America (Asia) limited, the wholly-owned subsidiary of BOA in Hong Kong. Payable in cash, the total consideration of the acquisition is 9.71 billion HK dollars (about 1.24 billion U.S. dollars), representing nearly 1.32 ti..

Futata Co., a men's suit chain based on Japan's southern island of Kyushu, said it will accept Konaka Co.'s $93 million merger proposal, thwarting rival Aoki Holdings Inc.'s counter bid. ``We decided to refuse Aoki's merger proposal as we seek a merger with Konaka,'' Futata said in a statement released at the Tokyo Stock Exchange. The company said it chose Konaka, Futata's largest shareholder wi..

Fitch Ratings says Wednesday that increasing government-driven M&A activities in China's steel sector will prolong industry rationalisation and delay the targeted improvement in the overall competitiveness and efficiency of the sector. Although the agency notes that state-managed M&As provide more flexibility and cushion for domestic steel makers to reorganise themselves, Fitch has some doubts a..

The youngest son of Hong Kong's richest man Li Ka-shing plans to fork out NT$24 billion (US$733 million) to secure a 60 percent stake in Taiwan's biggest cable TV operator China Network Systems Co, according to a media report.Showing his determination to branch out into Taiwan, Richard Li, chairman of Hong Kong's biggest phone operator PCCW Ltd, will visit Taiwan this week with plans to pay NT$4..

Aug. 18, 2006 (China Knowledge) – Wing Lung Bank Ltd., a Hong Kong-based bank, said Wednesday that it would welcome any potential merger or acquisition with “a very open mind”, opening up room for new speculations about whether or not the bank was in any talks with China Construction Bank Corp. (CCB) on a possible stake sale. Hong Kong paper The Standard quoted Chairman Patrick Wu Po-kong as say..

India's State-owned ONGC Videsh Ltd (OVL) and China's Sinopec jointly bought 50 percent stake in U. S. firm Omimex de Columbia, Indo-Asian News Service reported Sunday. The news agency quoted an anonymous official of OVL as saying that the three firms had exchanged papers for share transfer on Friday and OVL will have 25 percent stake while Sinopec has the rest 25 percent. The deal has implicate..

By Eadie Chen and Langi Chiang BEIJING (Reuters) - Business forays into China could become both easier and harder under Commerce Ministry rules covering foreign investment and takeovers published on Wednesday. The regulations give foreign buyers explicit authorization for the first time to pay for stakes in Chinese companies in shares instead of cash, but they also confer broad new powers to blo..

China 3C Group (OTC Bulletin Board: CHCG), the parent company of Zhejiang Yong Xin Digital Technology Co., Ltd. today announced that has completed its acquisition of Hangzhou Sanhe Electric Technology Ltd., a rapidly growing home electronics retail chain. As previously announced, China 3C is acquiring 100% of Hangzhou Sanhe in a cash and stock transaction valued at approximately $8.75 million. C..

By becoming the second-largest shareholder of Toppan CFI (Taiwan), a color filter (CF) maker and Taiwan-based subsidiary of Japan-based Toppan Printing, AU Optronics (AUO) will secure the fifth-generation (5G) CFs needed by itself and Quanta Display (QDI), which will soon be merged into AUO, according to HB Chen, president, COO and spokesperson of AUO. Since QDI’s current in-house CF supply is n..

Aug. 9, 2006 (China Knowledge) – Zijin Mining Group Co. Ltd., a mining conglomerate in China engaged primarily in the production of gold, yesterday announced that it expects to confirm an overseas acquisition by next month, according to an AFX report. Speaking to reporters at a media briefing to discuss the group’s recently-released first half results, Chairman Chen Jinghe said that the company ..

Leasing firm Orix Corp. said Tuesday it has purchased a 73.9 percent stake in QB Net Co., which runs the barbershop chain QB House, and sent two directors to the QB Net board.Orix said it will cooperate with QB Net's management and employees to increase its corporate value with a view to making an initial public offering of its shares in the future.QB Net, founded in 1995, has rapidly expanded t..

TWO leading Chinese steelmakers plan to form a new company that could become the second-biggest domestic mill by output, in the latest example of consolidation in the fragmented steel industry. Jinan Iron & Steel Group and Laiwu Iron & Steel Group, both in Shandong Province, have agreed to pool assets to create Shandong Iron & Steel Group, Jinan's listed unit said in a filing yesterday. The rest..

HUANG Guangyu, the Chinese mainland's richest individual and owner of Gome Appliance, is eying a merger with rival Suning Appliance Co after acquiring China Paradise last week. But Suning, the second-biggest home appliance chain in China, yesterday responded coldly to Huang's offer, saying it will not accept such a proposal as it is in a strong position and expanding rapidly. "Suning is a listed..

BEIJING (XFN-ASIA) - Standard & Poor's Ratings Services said it expects 2006 to be a record year for mergers and acquisitions (M&A) activity in China. The ratings agency said in a statement that it expects to see larger M&A actions by Chinese companies this year in both the overseas and domestic markets as they attempt to diversify their skills by entering overseas markets or consolidate their d..

Oji Paper Co., the nation's leading paper producer, said Sunday it aims to make Hokuetsu Paper Mills Ltd. a wholly owned subsidiary through a takeover bid beginning in mid-August.Major Japanese companies rarely make hostile takeover bids against domestic competitors.Analysts said the planned management integration could sharpen Oji Paper's edge against Nippon Paper Group Inc., Japan's second-lar..

July 21 (Bloomberg) -- Softbank Corp. plans to borrow 1.4 trillion yen ($12 billion) in Japan's biggest asset-backed loan to refinance debt used to acquire the local mobile-phone unit of Vodafone Group Plc, people involved in the transaction said. Citigroup Inc., Deutsche Bank AG and Mizuho Financial Group Inc. are leading negotiations to replace a 1.28 trillion yen one- year loan with longer-te..

TOKYO (MarketWatch) -- Resona Holdings Inc. (8308.TO) said Thursday its group companies have agreed to sell approximately 12% of their stake in outstanding shares of unlisted credit card company JCB Co. to Orix Corp. (8591.TO) and the Nomura Holdings Inc. (8604.TO) group. A Resona Holdings spokesman declined to disclose the value of the sale of the 12% stake. After the sale, the Resona group wil..

Dow Chemical Co yesterday completed its acquisition of a leading Chinese water-treatment company to further strengthen its portfolio in the sector. The purchase of Zhejiang Omex Environmental Engineering Co, based in Huzhou in Zhejiang Province, is believed to be the first privately run firm to be acquired by Dow in the Chinese market. Terms of the deal were not revealed as the sum fell below US..

CITIC Resources Holdings Ltd, a unit of state investment arm China International Trust & Investment Corp, has bought 51 percent of an Indonesian oil field for US$97 million. The energy and base metals producer purchased a stake in the Seram Non-Bula block from KUFPEC, a subsidiary of Kuwait Petroleum Corp, gaining access to an oilfield with 39 million barrels of gross oil reserves, Bloomberg New..

Wired News and Wired magazine are together again after an eight-year separation. Conde Nast Publications, the corporate owner of seminal San Francisco tech magazine Wired, paid $25 million to acquire the online property Wired News from its parent, Lycos of Waltham, Mass., Lycos said Tuesday. The two entities, which are already housed in the same building on Third Street near San Francisco's Sout..

On July 5, when the Bank of China (BOC) launched its initial public offering (IPO) on the Shanghai Stock Exchange, the market reacted warmly and pushed its stock prices high above its original price. BOC's listing on the A-share market has a significance that cannot be overstated. The listing, coming soon after the government lifted its year-long ban on IPOs in May, is valuable both to the devel..