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

Semiconductors

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

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.

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.

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.

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.

HKBN is a takeover target for China Mobile and US infrastructure fund I Squared Capital. Photo: EPA-EFE
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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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.

Hong Kong property

ICBC (Asia) backs Hong Kong developers with loan support as sector struggles

Local subsidiary of China’s largest bank has ‘zero’ non-performing loans from Hong Kong developers and plans to increase home mortgages.

A worker cleans a pool near residential construction projects in the Kai Tak area of Hong Kong on March 11, 2025. Photo: May Tse
Banking & finance

China’s brokerage sector sees mega-mergers but remains competitive, fragmented

China’s intensely competitive securities sector, with more than 140 firms, has been repeatedly pulled up by regulators, S&P Global says.

Late last year, Guotai Junan Securities and Haitong Securities announced a 103 billion yuan merger to create China’s biggest brokerage. Photo: Shutterstock
Infrastructure

UK utility Thames Water eyes Hong Kong’s CK Infrastructure as potential buyer

Thames Water wants CK Infrastructure as a potential buyer if court appeal fails, aiming to minimise nationalisation time and financial risks.

CK Hutchison

Li Ka-shing’s Hutchison steps back from global ports amid trade war

CK Hutchison said it would sell 80 per cent of its stakes in 43 ports in 23 countries, including Panama but excluding mainland China and Hong Kong.

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