UPS to buy out local partner&#39;s share in China joint venture
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SHANGHAI, China - US express mail operator United Parcel Services Inc. will take direct control of a large share of its joint venture operations in China next year, the company said Thursday.
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Texas power company TXU Corp.  said on Monday it agreed to be acquired by a group led by private equity firms Kohlberg Kravis Roberts & Co.  and Texas Pacific Group  for $31.8 billion in the largest leveraged buyout in history.
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Media conglomerate Time Warner Inc. , which operates six cinemas in China with local partners, has agreed to sell three to a Chinese company and is in talks to offload the rest, a company spokesman said on Thursday.
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British conglomerate Virgin Group Ltd. announced Tuesday that it is in talks with a mainland Chinese telecommunications company to set up a joint venture to provide mobile services in China.
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SEOUL In one of the highest-profile international acquisitions by a Chinese company, Shanghai Automotive Industry signed a $500 million deal on Thursday to acquire control of the South Korean company Ssangyong Motor.
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EBay Inc. on Tuesday confirmed it  is forming a venture with a Chinese partner as the U.S. Web  auction giant switches strategies for tapping China, a  promising market where it has so far struggled.
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EMI will buy out shares in Toshiba-EMI, it's Japanese joint venture with Toshiba.
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HSBC Holdings, Europeâs biggest bank, agreed to buy a 51 percent stake in Korea Exchange Bank for $6.3 billion as it attempts to bolster its presence in the fast-growing Asian market. The purchase of the stake from the United States private equity group Lone Star Funds would allow Lone Star, based in Dallas, to exit a controversial investment. HSBC, based in London, said that it did not intend to make an offer for the remainder of the Korean bankâs shares and that the bank would remain listed on the Korea Exchange. The acquisition would catapult HSBC past its foreign rivals Standard Chartered and Citigroup. Both have bested HSBC in the past in purchasing local banks during the post-Asian crisis turmoil. A local court in South Korea has been investigating allegations that Lone Star manipulated the stock price of the Korean bankâs credit card unit in 2003 so that the bank could take it over at a lower price.
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Part of Hewlett-Packard's Chinese operations is up for sale as the company's Chinese partner looks to sell its stake.
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The Shanghai Automotive Company, Chinaâs largest carmaker, agreed to buy out its partners in a truck maker and an auto-parts venture for 1.48 billion yuan ($194 million) to combine and expand its commercial-vehicle operations. The operations being taken over, the Shanghai Huizhong Automotive Manufacturing Company and the Shanghai Wanzhong Automotive Components Company, will become part of a Shanghai Automotive unit, the SAIC Motor Corporation, Shanghai Automotive said. The automaker already owns half of both ventures. The move is in line with a government plan to combine the countryâs automakers.
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US technology giant IBM is selling its personal computing business to China&#39;s biggest PC maker. The deal highlights China&#39;s growing economic clout and global reach.
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A 30 percent stake in Hewlett-Packard&#39;s Chinese operations is up for sale to the highest bidder as the company&#39;s Chinese partner looks to sell its shares.In a filing (in Chinese) with the China Beijing Equity Exchange, state-owned China Electronics Import &amp; Export Co. (CEIEC) invited bids for its stake in China HP and set a minimum price of 967 million yuan ($133 million).CEIEC will accept bids until Feb. 2 from qualified Chinese companies. Offers from financial institutions or hedge funds will not be considered, it said.HP had little to say in response to CEIEC&#39;s offer, but reaffirmed the importance of China HP to its overall business.&quot;China is a critically important market to HP and continues to hold tremendous opportunities for our business. ... Whilst we do not comment on our financial or operational plans in the future, HP will ensure its business operations remain unaffected,&quot; wrote Joanne Tan, a company spokeswoman, in an e-mail.China HP was founded in 1985 as a joint venture between HP and CEIEC. Over the years, the joint venture has been successful and China HP is a major player in key local markets, such as PCs and servers.Joint ventures are a common way of doing business in China, with foreign companies tapping the experience and connections of a local partner.In the best situations, these partnerships can help the foreign company build and grow their business in China faster than would otherwise be possible.
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Texas power company TXU Corp.   said on Monday it agreed to be acquired by a group led  by private equity firms Kohlberg Kravis Roberts & Co.   and Texas Pacific Group  for $31.8 billion in the  largest leveraged buyout in history.
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United Technologies (UTC), the parent company of security product manufacturer and integrator Chubb, is making an offer to purchase fire and safety product manufacturer Kidde plc.
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For China, the country&#39;s biggest computer supplier buying out a unit of IBM is more than just a business deal. Lenovo Group&#39;s decision to purchase IBM&#39;s PC group for $1.75 billion could be
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International Business Machines Corp. Tuesday agreed to sell its personal computer business to China&#39;s largest computer manufacturer, backing out of a market the venerable technology
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Media conglomerate Time Warner Inc.,  which operates six cinemas in China with local partners, has  agreed to sell three to a Chinese company and is in talks to  offload the rest, a company spokesman said on Thursday.