Busy readers: here is what happened inside China’s smart money for the week of July 27 to 31:
- Haikou, Hainan province-based Chinese conglomerate HNA Group Co., Ltd. has agreed to acquire air cargo services firm Swissport International Ltd. from European private equity firm PAI Partners for approximately US$2.8 billion.
- Shanghai-based digital media and display advertising firm Focus Media Holdings Limited is seeking other ways to re-list in China, as the shell company in its previously planned back door listing deal becomes entangled in a potentially lengthy investigation.
- Hong Kong-listed ramen restaurant chain operator Ajisen (China) Holdings Limited has led a US$70 million investment in Baidu Waimai, the food delivery O2O (online-to-offline) platform launched by Chinese search engine Baidu Inc.
- Sino-French private equity firm Cathay Capital Private Equity has led an undisclosed investment in French web localization and marketing firm Datawords.
- Alibaba Group Holding Limited is investing US$1 billion to accelerate the global roll out of its cloud-computing business.
- Tempe, Arizona-based automotive material maker SDC Materials, Inc. has completed an undisclosed round of new financing led by SAIC Capital, the venture capital investment arm of Chinese car maker SAIC Motor Corporation.
- Shenzhen-based smart cycling helmet maker Livall Riding has completed RMB80 million (US$13 million) series A financing led by ChinaEquity Group.
- Beijing-based alcoholic beverage e-commerce company Jiuxian.com has raised RMB500 million (US$80 million) in a new round of financing from undisclosed Chinese investors.
- The Carlyle Group has invested RMB530 million (US$85 million) in Chinese vending machine operator Beijing Ubox Technology & Trade Co., Ltd. for an undisclosed amount.
- An overseas direct investment fund launched by China Investment Corporation earlier this year has officially begun operation, and plans to reach US$100 billion in total investment capacity eventually.
- China Investment Corp. has emerged as the winner of an auction, paving the way for it to acquire a property portfolio of nine Australian office buildings from Morgan Stanley's real estate investment arm for an undisclosed amount.
- Guangzhou city, Guangdong province-based online plastic trading platform Zhaosuliao.com has completed US$36 million series B financing led by New Horizon Capital.
- New York Stock Exchange-listed Chinese student tutoring service firm Xueda Education Group has agreed to be acquired by Shenzhen-listed Xiamen Insight Investment Co., Ltd., which is controlled by Tsinghua Unigroup Limited.
- Shanghai-based P2P (peer to peer) lending platform China Rapid Finance has completed initial closing of US$35 million series C round of financing led by Sino-U.S. private equity firm Broadline Capital.
- Hanover, New Hampshire-headquartered White Mountains Insurance Group has agreed to sell its subsidiary, Sirius International Insurance Group, to a Singapore-based investment arm of China Minsheng Investment Corp. for approximately US$2.2 billion.
- China-focused venture firm GSR Capital has launched a new mergers and acquisitions (M&A) fund with a capital raising target of US$5 billion.
- Beijing-based Duzhoumo, an online and mobile platform focused on weekend travel services, has completed US$20 million series A financing led by Legend Capital.
- Shenyang, Liaoning province-based Chinese bio-pharmaceutical firm 3SBio Inc., backed by CITIC Private Equity Funds Management Co. (CITIC PE), has acquired small molecule manufacturing firm Zhejiang Wansheng Pharmaceutical Co., Ltd. for RMB528 million (US$85 million).
