Korea M&A Corporation

Shanghai Airlines is expected to receive a CNY1 billion ($146 million) capital injection through the issuance of a nonpublic stock offering to Jinjiang International Holding, its third-largest stakeholder. The move is designed to reduce SAL's debt ratio and relieve some pressure as its financial situation worsens (ATWOnline, Feb. 6). The carrier said its debt ratio will fall 5.9 points to 85.5% ..

Wing Hang Bank Ltd. (0302.HK) said in a statement Wednesday afternoon that China Life Insurance Co. (LFC) and the Fung family aren't proceeding with an acquisition of Wing Hang Bank shares from Bank of New York. The statement comes after Hong Kong's Securities and Futures Commission said China Life had proposed buying 10% of Wing Hang Bank from a Bank of New York unit last year. The Bank of New ..

Bids for American International Group's(AIG Quote - Cramer on AIG - Stock Picks) Asian arm are due Friday and a number of prospective bidders, including HSBC Holdings(HBC Quote - Cramer on HBC - Stock Picks) and AXA SA have abandoned the process and no further bids may be forthcoming, the Wall Street Journal reports. AIG initially intended to sell 49% of American International Assurance, which i..

Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research) said on Tuesday it struck a deal to sell its venture capital business to a group led by the unit's management team and investment firm HarbourVest Partners. The price was not disclosed. The unit will be renamed Tenaya Capital and will have $750 million under management and about 45 portfolio companies. Lehman Brothers filed for ba..

Australia's Fortescue Metals Ltd. will reportedly sell A$558 million ($361.4 million)in new shares to China's Hunan Valin Iron & Steel, according to a Dow Jones Newswire report. Valin will purchase 225 million new shares issued by the miner at A$2.48 a share. In a separate development, the Chinese company will purchase 275 million existing shares from a current Fortescue shareholder, Fortescue w..

A group of Japanese companies led by Tokyo Electric Power Co. and Toshiba Corp. will buy a stake in Canada’s Uranium One Inc., gaining access to the miner’s output. Uranium One agreed to sell a stake worth about C$270 million ($221 million), or C$2.30 a share, to the venture, Japan Uranium Management Inc, the miner said in a statement on its Web site. The group, which includes the Japan Bank for..

Telstra Corp., Australia’s largest telephone company, bought controlling stakes in two Chinese firms for a total of as much as A$302 million ($198 million), expanding in the world’s fastest-growing Internet market. Telstra acquired 67 percent stakes in each of China M, a provider of mobile-content, and Sharp Point, which offers services for online music businesses, the Melbourne-based company sa..

By Pierre Paulden and Rob Delaney Jan. 1 (Bloomberg) -- LyondellBasell Industries AF, the chemicals maker controlled by billionaire Len Blavatnik, may file for bankruptcy as a way to restructure debt that financed its $12.7 billion merger a year ago. The company hired an executive to oversee a restructuring in case it seeks court protection and said its private-equity owners denied a request for..

Dec. 26 (Bloomberg) -- Elpida Memory Inc., Japan’s largest computer-memory chipmaker, has begun merger talks with Powerchip Semiconductor Corp. and two other Taiwanese semiconductor companies to counter a glut that’s widening industry losses. “Ideally, the four companies should come together as one,” Yukio Sakamoto, chief executive officer of Tokyo-based Elpida, said in an interview after confir..

Sina Corp., a Chinese-language Web portal operator, is venturing outside the Internet to scoop up valuable advertising real estate in office buildings, malls and airports with its $1 billion-plus acquisition of a big chunk of Focus Media Holding Ltd.'s business. Shares of both companies dived on fears that Sina is piling too much on top of its core business, and that Focus Media (nasdaq: FMCN - ..

KUALA LUMPUR, Dec 23 (Reuters) - Malaysian low-cost airline AirAsia Bhd (AIRA.KL) is in talks to merge with the budget carrier of Australia's Qantas Airways Ltd (QAN.AX), a Malaysian newspaper reported on Tuesday citing an unnamed source. The possible merger between AirAsia and Jetstar could involve a share swap and would help the carriers cope with the impact of slowing demand worldwide as the ..

TOKYO (Reuters) - U.S. insurer American International Group (AIG.N) said on Wednesday that it would halt the merger between its two Japanese life insurers, AIG Star Life Insurance and AIG Edison Life Insurance. AIG, once the world's largest insurer, said in October that it would postpone the merger between AIG Star and AIG Edison, which was originally scheduled to take place on January 1, 2009. ..

By Wang Xing (chinadaily.com.cn) Chinese investment company Fosun International has announced that it has acquired a 13.3 percent stake in China's largest outdoor advertising company Focus Media that had been recently acquired by Sina Corp. That will make Fosun the third largest shareholder in Sina after the deal is completed. Fosun said in a statement that it spent $150.11 million on 17,267,078..

By Kevin Chen STAFF REPORTER, WITH BLOOMBERG Friday, Dec 26, 2008, Page 12 AU Optronics Corp (AUO, 友達光電) and Chi Mei Optoelectronics Corp (奇美電子), on course to post record losses, said they are open to mergers with rival liquid-crystal-display makers to restore profitability. AU Optronics, Taiwan’s largest LCD maker, will consider all proposals beneficial to shareholders, spokeswoman Hsiao Ya-wen..

IRVINE, Calif. - (Business Wire) Nihon Kohden Corporation today announced the mutual agreement of acquisition of a 100% share of Neurotronics Incorporated (Headquarters: Gainesville, Florida). Neurotronics becomes a subsidiary of Nihon Kohden Corporation on December 31, 2008. Neurotronics Incorporated was established by Dr. Jack Smith to develop sleep analysis devices and software. Neurotronics ..

SEOUL, Dec 28 (Reuters) - The Korea Development Bank (KDB), a top shareholder of Daewoo Shipbuilding (042660.KS), said on Sunday it would grant a one-month delay in sealing the sale of the shipbuilder to the preferred buyer, Hanwha Group. The announcement came after Hanwha, a chemicals-to-brokerage group which runs explosive maker Hanwha Corp (000880.KS), had proposed delaying payment for the ac..

TOKYO (AFP) — Mitsui Sumitomo Insurance Group Holdings and its two rivals are considering an integration of their operation to become Japan's biggest non-life insurer, a news report said Sunday. Mitsui Sumitomo, the nation's second largest non-life insurer, is negotiating with Aioi Insurance and Nissay Dowa General Insurance on the integration, Japan's public broadcaster NHK said, quoting unname..

BEIJING, Dec 26, 2008 (Asia In Focus via COMTEX) -- BACHF | Quote | Chart | News | PowerRating -- The Shanghai branch of the INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ICBC), the BANK OF SHANGHAI and the SHANGHAI UNITED ASSET AND PROPERTY EXCHANGE (UAE) jointly launched 10 billion yuan ($US1.46 billion) worth of credit lines for enterprises' mergers and acquisitions (M&A). According to an agreemen..

TORONTO, Dec. 29 /PRNewswire-FirstCall/ - Hiru Corporation (HIRU) www.hirucorporation.com is pleased to announce that it has identified a suitable merger candidate. The merger candidate is a China based small appliance manufacturer. The company is also continuing its negotiations for the technology purchase and exchange with Drop Vending Services, a San Marino company, in the event of a non comp..

Acorn Closes Acquisition of Yiyang Yukang, a Domestic Communication Equipment Producer and Distributor in China SHANGHAI, China, Dec. 29 /PRNewswire-Asia-FirstCall/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading integrated multi-platform marketing company in China engaged in developing, promoting and selling consumer products and services, announced today the comp..

Credit Agricole SA (CAGR.PA: Quote, Profile, Research) will pay $570 million to lift its stake in Japan's Resona Holdings (8308.T: Quote, Profile, Research) to nearly 4 percent, as the French bank looks to build up its presence in the world's second-largest economy. Credit Agricole, which has been working with Resona since 2002, will buy 50 billion yen ($570 million) worth of Resona's common sha..

SYDNEY, Dec 18 (Reuters) - China's steel industry extended its reach into Australia's rich iron ore mines on Thursday as No. 3 mill Wuhan Iron & Steel (Group) Co agreed to buy half of five projects owned by Centrex Metals Ltd (CXM.AX: Quote, Profile, Research) for $126 million. Wuhan, an integrated steelmaker that already operates iron ore mines in China, will also pay an additional A$9.7 millio..

China Investment Corp. Chairman Lou Jiwei said he wouldn’t “dare” invest the sovereign wealth fund’s money in foreign financial firms after losing $6 billion on stakes in Morgan Stanley and Blackstone Group LP. “I don’t dare to invest in financial institutions now,” Lou said today at a conference in Hong Kong. “The policies of the developed nations on these institutions are not clear. Until they..

Intel, the world’s largest chip maker, records most of its profit from its core business, the microprocessors that serve as the brains of most computers. But the company’s side venture in flash memory — which is used to store songs on digital music players and photos on digital cameras — has been another story. Although Intel does not disclose financial details of the business, flash-based stora..

PARIS, December 2, 2008 /PRNewswire-FirstCall via COMTEX/ -- Alcatel-Lucent (Euronext Paris and NYSE: ALU) today announced that it has been selected by China Telecom, China's leading telecom operator, to provide end-to-end communication solution for China Telecom and increase the capacity and coverage of its mobile voice and data network throughout the country. The contract was secured through A..

YTL Power International Bhd., a Malaysian utilities company, agreed to buy Singapore power generator PowerSeraya Ltd. from Temasek Holdings Ltd. for about S$3.6 billion ($2.4 billion). YTL Power will also take on S$201 million of PowerSeraya’s debt, Temasek, Singapore’s state investment company, said in an e-mailed statement today. The transaction is due to be completed early next year. Temasek ..

KKR is expected to buy Mengniu Modern Dairy, in which China's largest dairy company Mengniu has a stake. The company has five farms and 40,000 dairy cows across China's northern provinces, including a flagship farm in Mongolia. Mengniu Modern Dairy's headquarters is China's largest single farm, spread over nearly 3,000 acres at Ma'anshan, in the eastern province of Anhui, and stocked with 8,300 ..

Korea's biggest agency network, Cheil Worldwide, bought a 49% stake in London agency Beattie McGuinness Bungay today in a first step toward creating a micro-network that will open in New York next year. The goal for Cheil, Samsung Electronics' Seoul-based in-house ad agency, is to consolidate its role with Samsung as well as start building its own international business apart from its largest cl..

Asahi Breweries Ltd. and Suntory Ltd. approached the owners of Independent Liquor about a possible sale of the Australian and New Zealand drinks group, Dow Jones Newswires reported. Independent appointed UBS AG to consider the offers, which are not considered “knockout blows” at this stage, Dow Jones said, citing an unidentified person familiar with the situation. Independent is owned by buyout ..

SAN JOSE, Calif. -- Japan's Elpida Memory Inc. is mulling over a plan to acquire Taiwan's Powerchip Semiconductor Corp., according to reports from Reuters and others. Both DRAM suppliers are losing money amid the memory downturn, but Powerchip is in a bad position. Powerchip (Hsinchu) reported that total revenue reached NT$14.97 billion ($448.3 million) in Q3, with an after-tax net loss of NT$15..