Chinese private equity firm ChinaEquity Group has agreed to acquire control of Shenzhen Hifuture Electric Co., Ltd., listed in the same city, for RMB1.65 billion (US$252 million), according to a disclosure filing (in Chinese). ChinaEquity Group is to acquire 87 million shares, or a 11.1% stake, from the company's two key individual shareholders, at RMB19 […]
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Fosun Group appears to be back in a shopping mood as its founder Guo Guangchang makes a high profile public appearance on China's central television station. Yesterday, Shanghai Fosun Pharmaceutical (Group) Co. made a non-binding proposal to acquire KKR-backed Gland Pharma in India for up to US$1.5 billion, in the first major move after Guo […]
CloudMinds, a cloud robotics start-up founded by the former head of the research division of China Mobile, has raised US$30 million seed financing from SoftBank China Venture Capital (SBCVC), Hon Hai Precision Industry Co., Ltd., Walden International and Kaixuan Capital. Cloud robotics is an emerging field of robotics rooted in cloud computing and cloud storage […]
Chinese social networking mobile app Tantan has completed a US$32 million series C round of financing led by DST Global, Vision Plus Capital and LB Investment, according to Chinese media reports. Launched in 2014, Tantan claims to have daily active users of over 2.5 million, of which 80% are young users under 30 years old. […]
WI Harper Group, an early stage venture capital firm focused on U.S.-Asia cross-border opportunities, has closed WIH Fund VIII LP at US$175 million, according to a company announcement. The closing of the newest fund brings WI Harper's total assets under management to nearly US$1 billion. "WI Harper was founded 25 years ago based on a […]
CVC Capital Partners has hired former Blackstone Group L.P. senior managing director Yi Luo (pictured) as partner and head of China back in February, according Luo's LinkedIn profile. In this role, Luo oversees private equity activities in Mainland China for US$52 billion-under-management CVC Capital. Previously, he served as a senior managing director at Blackstone from […]
New York Stock Exchange-listed E-Commerce China Dangdang Inc. says it has received a revised lower bid from the company's chairman Peggy Yu Yu and chief executive officer Li Guoqing to acquire all outstanding shares not already owned by them at US$6.50 in cash per American Depositary Share (ADS). The new price is 17% lower than […]