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

Coffee

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

Semiconductors

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

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.

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.

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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.

Semiconductor Manufacturing International Corp is mainland China’s top contract chipmaker. Photo: Shutterstock
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.

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.

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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Tencent Holdings is betting on the South Korean music industry’s continued growth, as it acquires a nearly 10 per cent stake in K-pop giant SM Entertainment. Photo: Shutterstock
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.

A worker checks the booth for Chinese supercomputer company Sugon during the World AI Conference in Shanghai, July 5, 2023. Photo: AP
Banking & finance

Goldman to merge Asia-Pacific investment banking businesses

Bank says move will ‘enable more holistic client engagement, more effective deployment of global and regional expertise’.

Indonesia

Will Indonesia’s GoTo and Singapore’s Grab merge to become a regional superapp?

As Singapore-based Grab reportedly eyes Indonesia’s prized GoTo in a potential US$7 billion deal, analysts predict a nationalist backlash.

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Starbucks

Starbucks is said to kick off process to sell stake in China business

Starbucks sent out letters via a financial adviser to several potential investors this week to solicit views on the China business and how to grow it, sources said.

A Starbucks Reserve cafe in Beijing on April 9, 2025. Photo: AFP
Donald Trump

Japan’s carmakers under pressure to merge as Chinese rivals rise, tariffs bite

The consolidation could be Japan-specific as carmakers elsewhere have already been through that cycle, Man Group’s Stephen Harget says.

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Japan’s car sector is due for consolidation, according to a hedge fund manager. Photo: AP
Italy

Pirelli sidelines China’s Sinochem over control of the Italian tyremaker

The governance status of the Chinese conglomerate has been downgraded following a request from Italian regulators.

Hong Kong

Ant pays US$362 million to buy Hong Kong retail broker Bright Smart

Ant Group agreed to pay HK$2.81 billion (US$362.2 million) for 50.55 per cent of Bright Smart Securities & Commodities Group.

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Hong Kong economy

Twist in Hutchison ports deal as Italian shipping family’s role surfaces

Aponte family owns world’s largest container line, which is spearheading the strategic acquisition of CK Hutchison’s overseas ports.

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MSC is the world’s largest container line and has a 20.3 per cent market share. Photo: EPA-EFE
Banking & finance

China Mobile gets 15.5% stake in HKBN to fend off rival I Squared Capital

Company agrees to pay about US$154.6 million for the block of shares from private equity firm TPG.

CK Hutchison

Hutchison hits pause on Panama ports deal

An antitrust probe by China into CK Hutchison’s deal to sell most of its ports was Beijing’s latest response to the Hong Kong conglomerate’s planned sale, which many saw as being agreed to under pressure from the US president.

CK Hutchison

Hutchison says it is evaluating spin-off of global telecoms business

‘From time to time, the [group] receives proposals and explores and evaluates opportunities that may be available,’ Hutchison said in a statement.

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A branch of CK Hutchison’s Three cellular telecommunications network in the United Kingdom. Photo: CK Hutchison
X (formerly Twitter)

Elon Musk sells X social media platform to his own xAI for US$33 billion

The tech billionaire plans to combine the ‘data, models, compute, distribution and talent’ from the app and start-up.

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Tech billionaire Elon Musk wears a ‘Trump Was Right About Everything!’ hat while attending a cabinet meeting at the White House on Monday. Photo: Reuters
China property

Exclusive | BlackRock sells last Shanghai asset at discount amid China retreat

The US firm is selling its last major asset in the city, Trinity Place, for 900 million yuan (US$124 million), according to sources.

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Banking & finance

China to attract more private equity from Middle East and US: Bain & Co

Asia-Pacific deal value rose 11 per cent to US$176 billion in 2024, according to Bain & Company.

Hutchison’s Panama ports deal

Li may swing BlackRock deal with just 15% of minority owners’ votes

Minority shareholders are also expected to support the sale to receive a special bonus of as much as HK$25 a share, they said.

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Li Ka-shing (centre) during his final annual general meeting as the chairman of his flagship companies CK Hutchison Holdings and CK Asset Holdings in Hung Hom on 10 May 2018, before his retirement. Photo: Sam Tsang
China technology

Wingtech sells 4.6 billion yuan assembly assets after losses from US sanctions

The company signed an agreement to sell stake in five subsidiaries to Luxshare Precision Industry, according to filing with Shanghai Stock Exchange.

An undated aerial photograph of Dongguan Luxshare Technology in Guangdong province. Photo: Handout
United States

Hutchison stays mum on plan to sell port assets amid Panama spat, China rebuke

No event that might require disclosure was identified, Hutchison said, leaving the onus on shareholders to question the directors at its AGM on May 22.

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ESG investing

Hong Kong investor to leave Webb-site data as ‘gift to public interest’

David Webb says he hopes someone will carry on his work of collecting and distributing data on corporate governance and other topics.

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