Tag: China’s Investments Abroad

French Automaker Peugeot in Talks with China’s Dongfeng

Troubled French automaker PSA Peugeot Citroën is reportedly in talks to sell as much as a 30 percent stake in its company to China’s second-largest automobile manufacturer, Dongfeng Motor Corporation. Dongfeng and Peugeot have been involved in a joint venture...

/ October 11, 2013

Smithfield Overwhelmingly Approves Shuanghui Deal

Shareholders at US pork producer Smithfield Foods Inc. overwhelmingly approved a $4.7 billion takeover bid by Shuanghui International Holdings on September 24. The deal, approved by more than 96 percent of voting shareholders, is the largest-ever Chinese takeover of an...

/ September 24, 2013

US Regulators Approve $4.7 Billion Chinese Takeover of Smithfield Foods

By Catherine Matacic Heralding what could be the largest-ever Chinese takeover of an American firm, US regulators on September 6 approved Shuanghui International Holdings’ $4.7 billion bid for American pork producer Smithfield Foods Inc. The deal was initially announced in...

/ September 10, 2013

Sinopec Buys Stake in Angolan Oil Field

China Petrochemical Corp. (Sinopec) agreed on June 24 to buy US-based Marathon Oil Corp.’s stake in an Angolan oil and gas field. With a 5 percent stake that Sinopec purchased from France’s Total in 2011 and Marathon’s 10 percent stake,...

/ June 25, 2013

Developer Makes Largest Ever Investment by China in UK

On May 29, Chinese developer Advanced Business Park signed a $1.5 billion deal with London Mayor Boris Johnson to develop a 35-acre complex of offices and shops at the Royal Albert Dock near London’s airport aimed at attracting Asian companies....

/ June 18, 2013

Pioneer and Sinochem Close to Forming Partnership to Drill in Texas

On May 30, the Dallas Business Journal reported that Pioneer Natural Resources is close to entering a joint venture with China’s Sinochem Group through its US subsidiary Sinochem Petroleum USA LLC  for drilling interests near Midland, Texas. Pioneer will sell...

/ June 18, 2013

China’s Fosun and AXA Private Equity Make Bid to Buy Club Med

On May 27, the two largest shareholders of Club Mediterranee SA (Club Med), France’s AXA Private Equity and China’s Fosun International Ltd., made an offer of $719 million to buy the rest of France’s famous resort operator. The two bidders...

/ June 18, 2013

Shuanghui’s Purchase of Smithfield Foods Could Be Record Deal

On May 29, China’s largest meat processor Shuanghui International Holdings announced it was buying Virginia-based Smithfield Foods Inc., the world’s largest pork producer, for $4.7 billion in a takeover that would be China’s biggest acquisition of a US company. Before...

/ June 3, 2013

China’s Foreign Exchange Administration Opens First US Office

China’s State Administration of Foreign Exchange (SAFE), which manages its currency reserves, has set up an office in New York, according to the Wall Street Journal. The New York branch is expected to invest in private equity, real estate and...

/ May 20, 2013

Zhejiang University Signs Agreement to Create London Campus

Zhejiang University, which is based in Hangzhou, signed a memorandum of understanding with Imperial College London on May 15 to make it the first Chinese university to set up a campus overseas. The proposed $228 million site could host up...

/ May 20, 2013