China M&A, VC Wrap for the Week of 9/6/2011
The Greater China region's share of the global mergers and acquisitions market climbed to 1.3% in 2010 from 0.5% in 2005, according to a Deloitte report. The value of M&A deals surged 157% to a record $62 billion in 2010 and was $17 billion in 1H 2011, Deloitte said.
September 6 – Johnson & Johnson (NYSE: JNJ) is reportedly interested in taking over Softto Co (SHE: 000662), a Wuzhou, Guangxi province-based manufacturer and distributor of household chemicals and pharmaceutical products. Softto posted ¥236 million in revenues and ¥10 million in net losses for 1H 2011.
September 6 – Jizhong Energy Resources Co (SHE: 000937), a Xitang, Hebei province-based coal producer, said it had purchased 80% of Jizhong Energy Mining Ltd, a wholly-owned subsidiary of its parent Jizhong Energy Group.
September 6 – Beva.com, a Chinese online education service provider, has received $10 million in venture capital funding from Qiming Venture Partners, Beva founder and CEO Yang Wei said. Beva has so far invested ¥10 million in R&D and developed a partnership with Beijing Normal University for cooperation in preschool education services.
September 5 – Zhejiang Narada Power Source Co (SHE: 300068), a chemical power supplier, said it plans to buy 51% of Jieshou Huayu Power Co and 80% of Zhejiang Changxing Wufeng Power Co to expand its battery business. The company did not reveal the costs of the stake acquisitions.
September 2 – China has tightened scrutiny of the vehicles used to circumvent foreign ownership restrictions in Internet companies, the Financial Times reported.
September 1 – China Niobium Holdings Ltd, a company set up by? Baosteel Group, Taiyuan Iron & Steel Group Co and Citic Group, has paid $1.95 billion for a 15% stake in Brazil-based CBMM, which is responsible for 85% of global niobium output. Niobium is a key ingredient for special steel products, such as stainless steel.