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Mergers & Acquisitions

Mergers & Acquisitions
The latest news, analysis and opinion on Mergers & Acquisitions. In-depth analysis, industry insights and expert opinion.
Ant Group’s latest deal reflected efforts by Chinese Big Tech companies to boost support for mainland-designed chips. Photo: Shutterstock
Semiconductors

Ant Group acquires stake in Chinese memory chip firm InnoStar

The deal signals continued Chinese efforts to support domestic suppliers and reduce reliance on imported semiconductors.

Banking & finance

China M&A back on upwards trajectory amid favourable market conditions

International Property

Philippines’ Zobel de Ayala clan makes US$2.5 billion bet on retail, hotels

Blockchain

Leather goods maker soars 68% after investing in tokenisation start-up

Hong Kong-listed China International Development Corporation acquires a 20% stake in NVT amid enthusiasm over virtual assets.

NVT operates a tokenisation platform for real-world assets. Photo: Shutterstock
Electric & new energy vehicles

China’s oldest carmaker eyes stake in Leapmotor amid EV surge

The investment, which is yet to be finalised, would lead to joint development of EVs and bolster overseas expansion, report says.

Semiconductors

China’s No 2 foundry Hua Hong seeks acquisition to bolster legacy chips lead

While US sanctions have kept China behind in advanced chipmaking, production and demand for legacy chips have maintained momentum.

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Hong Kong stock market

CK Hutchison says US$23 billion global ports sale delayed until 2026

The deal is taking much longer than expected because of the size and complexity, co-managing director Frank Sixt says.

A cargo ship sails past the Panama Canal’s Port of Balboa, managed by CK Hutchison Holdings, in Panama City. Photo: AP
China Evergrande Group

Liquidators hire UBS and Citic to sell Evergrande’s property services unit

Court-appointed liquidators are working with UBS Group and Citic Securities to seek potential buyers for the subsidiary, Evergrande Property Services Group.

High Jewellery

Explainer | Why are Fabergé eggs so expensive? The history behind the jewelled pieces

Gemfield Group just sold Fabergé – beloved by Elton John and made famous by Imperial Russia – to SMG Capital for US$50 million.

Hong Kong

‘Shop King’ Tang Shing-bor’s family sells Hong Kong hotel at throwaway price

A joint venture between Hong Kong developer Wang On and US investment firm Angelo Gordon buys Mong Kok hotel for US$55 million, sources say.

An undated photograph of the exterior of Hotel Ease in Mong Kok. Photo: Handout
E-commerce

JD.com to buy German electronics retailer Ceconomy for US$2.5 billion

The deal would allow JD.com, which competes with Alibaba and Amazon, to expand in Europe.

JD.com is acquiring German electronics retailer Ceconomy. Photo: Shutterstock
Starbucks

Starbucks China attracts over 20 suitors amid 8% quarterly revenue jump

Coffee chain is working to identify a strategic partner with a like-minded vision and values to capture opportunities in China, CEO says.

Biomedicine: Companies

GSK to pay Hengrui US$12.5 billion for global rights to 12 drug projects

The deal would give GSK the rights to develop the drug for HRS-9821 and 11 preclinical programmes owned by Jiangsu Hengrui Pharmaceuticals.

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China technology

Opinion | In global fight over tech talent, China goes one up with ecosystem offer

US firms see talent as a moat to be captured and defended but China treats talent as an asset to be distributed across strategic domains.

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Illustration: Stephens Case
Robotics

Robot maker AgiBot seeks stake in Shanghai firm in potential back-door listing

The Tencent-backed start-up plans to acquire a controlling stake in Swancor Advanced Materials for US$279 million.

AgiBot’s acquisition plan reflects the growing need in China’s robotics industry to raise more funds, as a number of humanoid robot makers aim for mass production this year. Photo: AFP
Starbucks

Starbucks draws interest for controlling stake in China unit

Company is sifting through proposals and shortlisting a group of potential investors for a next round of bidding, sources say.

Banking & finance

Deal makers hit US$1.8 trillion as they get used to trade chaos

More than half of the 10 largest deals announced in 2025 have involved a private target, data compiled by Bloomberg show.

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Macau

Macau luxury property The 13 Hotel sells for HK$600 million to a local buyer

The sale to an unidentified buyer in Macau marks the city’s first hotel-related property transaction since the fourth quarter of 2017.

After a five-year search for a buyer, The 13 Hotel in Macau finally welcomes a new owner. Photo: Handout
Coffee

Starbucks denies it is considering a full sale of its China operations

‘We see significant long-term potential … and are evaluating the best ways to capture the future growth opportunities,’ coffee chain says.

Semiconductors

Billionaire Dai to reap US$237 million windfall from Qualcomm deal

Dai Weili holds 96.3 million shares of London-listed semiconductor firm Alphawave IP Group, making her its second-largest shareholder.

Banking & finance

Greater China property, finance firms face rising distress: AlixPartners

Restructuring professionals expect more out-of-court restructurings and distressed M&As as alternatives to formal insolvency proceedings.

Nearly three out of four property transactions in Hong Kong last year were distressed sales. Photo: Shutterstock
Tencent

Tencent Music to buy Ximalaya, an audio app used by 300 million users

Ximalaya, a platform for podcasts, audiobooks and music, could enhance Tencent Music’s competitiveness in the audio content market.

Ximalaya is a popular Chinese online audio platform. Photo: Handout
Bonds

Grab to sell US$1.25 billion in convertible bonds to fund acquisitions

Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said.

Semiconductors

Chinese chipmaker SMIC offloads stake in Ningbo unit to focus on core operations

SMIC’s asset sale reflects efforts by Chinese semiconductor firms to strengthen their operations amid tightened US tech restrictions.

Banking & finance

Investment ties between China and the Middle East to get stronger: EWPartners

Investment firm backed by Public Investment Fund of Saudi Arabia says ties to strengthen thanks to global trade uncertainties.

The skyline of Riyadh, Saudi Arabia. Photo: Reuters
Banking & finance

3 ‘formidable’ clusters of companies targeting Hong Kong IPOs, HKEX CEO says

The IPO pipeline in Hong Kong includes mainland Chinese A-share firms, US-listed Chinese firms and specialist companies.

HKEX CEO Bonnie Chan speaks at the Greater China Private Equity Summit in Hong Kong on Wednesday. Photo: Elson Li
Tencent

Tencent raises K-pop exposure by buying BTS agency Hybe’s SM Entertainment stake

The nearly 10 per cent stake, valued at about US$180 million, would mark Tencent’s first major deal in South Korea’s music industry in years.

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Semiconductors

Sugon, Hygon merger is latest sign of consolidation in China’s computing sector

Both companies’ Shanghai-listed shares would be suspended for up to 10 trading days starting Monday, according to stock filings.

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