FOOD & BEVERAGE等

FOOD BEVERAGE

CR Snow Breweries Acquires Moni Brewery

China Resources Snow Breweries (China) (華潤雪花啤酒(中國)有限公司)， a joint venture between Snow Brewery (雪花啤酒) and China Resources (Holdings) (華潤(集團)有限公司)， has paid RMB 300 million (USD 49.26 million) for an 80.1% stake in Qinghe Moni Brewery (清河墨尼啤酒公司)， a subsidiary of Liaoning-based North Green Food (北方綠色食品股份有限公司). Moni Brewery is a leading beer producer in Liaoning Province， with annual outputs of 190，000 kiloliters. The deal is expected to help CR Snow Breweries expand its market share to 68% in Liaoning Province and boost its production capacity to 2.3 million kiloliters.

COFCO to Acquire Australia’s Tully Sugar

China’s state-owned food giant COFCO (中糧集團公司) has gotten approval from the Foreign Investment Review Board for its offer to pay AUD 136 million (USD 145.37 million) for a 100% stake in Australian sugar mill Tully Sugar， a top sugarcane grower and processor in north Queensland. Tully Sugar produces 260，000 tons of sugar per year. The deal is expected to help the Chinese company secure supplies of sugar， which is an important raw material in food production.

INVESTMENT

Quantum Invests in MediaV

Quantum Strategic Partners， a private investment fund under Soros Fund Management LLC， led a consortium that includes LightSpeed Venture Partners and Granite Global Venture Capital to invest a total of USD 50 million in MediaV Advertising (聚勝萬合)， a Shanghai-based online marketing company. The deal is Soros’ first investment in an unlisted company in China as well as the largest single investment in the Chinese Internet advertising sector so far. MediaV， founded in 2009， has seen turnovers of RMB 250 million (USD 38.55 million) in 2010.

SIG to Establish Overseas MA Fund

Shanghai International Group (上海國際集團)， an investment unit of the Shanghai municipal government， plans to set up an overseas Mergers and Acquisitions (MA) fund. The new fund will be capitalized with RMB 10 billion (USD 1.54 billion) and will focus on overseas investments and providing funds for global mergers and acquisitions by Chinese companies.

LUXURY GOODS

Prada Launches Hong Kong IPO

Italian luxury goods maker Prada got approval to launch an IPO on the Hong Kong stock exchange last month. The company issued 423 million shares and hoped to raise up to HKD 20.3 billion (USD 2.6 billion). The IPO will make Prada the world’s first luxury goods brand to list in Hong Kong.

AUTOMOTIVE

Pang Da Youngman Take Stakes in Spyker Cars

Pang Da Automobile Trade (龐大汽貿集團股份有限公司)， a large-scale vehicle marketing company in China， and Youngman Automobile Group (青年蓮花汽車有限公司)， an auto maker based in Zhejiang Province， have signed a memorandum of understanding with Swedish automobile manufacturer Saab Automobile and its parent Spyker Cars to buy a 53.9% stake in Spyker Cars for EUR 245 million (USD 352.6 million). The two Chinese companies and Spyker Cars will establish sales and manufacturing joint ventures for the Saab brand as well as independently developed Chinese brands.

RESOURCES

Chalco， Rio Tinto Set up JV

State-owned Aluminum Corporation of China (中國鋁業公司/Chalco)， the country’s largest aluminum producer， and Rio Tinto， the world’s second largest mining company， are planning to establish a 51%-49% joint venture in China. The JV will focus on exploring mineral resources inside China， including copper， coal and potash fertilizer.

ELECTRONICS

Lenovo Buys Germany’s Medion

China’s leading computer maker Lenovo Group (聯想集團)， has agreed to acquire a 36.66% stake in German consumer electronics producer Medion AG for EUR 231 million (USD 340 million). The German company manufactures computers and notebooks， as well as televisions， refrigerators， toasters and gymnastics equipment. The deal will double the Chinese company’s share of the German market share to 14%， making it the third largest PC producer in the country. Germany is the largest PC market in Europe and after the acquisition Lenovo will have a 7.5% share of the Western European PC market.

Philips to Buy POVOS

Dutch electronics giant Royal Philips Electronics is planning to pay RMB 2.3 to 2.5 billion (USD 354.67 to 385.51 million) for core gadget assets of Shanghai POVOS Enterprise (奔騰電器公司)， a leading home appliance manufacturer in China. After the acquisition， the Shanghai-based company will become a fully-owned subsidiary of Philips. POVOS has seen sales revenues of RMB 790 million (USD 121.82 million) in 2010 and RMB 400 million (USD 61.68 million) in the first five months in this year.

BANKING

Four Chinese Banks Open Shanghai Headquarters

China’s state-owned banks including the Industrial and Commercial Bank of China (工商銀行/ICBC)， the Agriculture Bank of China (農業銀行)， Bank of China (中國銀行) and China Construction Bank (建設銀行) have applied to the Shanghai Municipal government for permission to open their second headquarters in the city. The move is in line with efforts to position Shanghai as an international financial center， and it is expected that in the future more banks will set up their headquarters in the city.

China Everbright Bank to Launch an H-Share IPO

China Everbright Bank (中國光大銀行)， a leading national shareholding commercial bank in the country， has gotten the green light to launch an initial public offering in Hong Kong this month. The bank will issue 12 billion shares and is expected to raise around USD 6 billion. China Everbright Bank had profits of RMB 12.79 billion (USD 1.97 billion) in 2010， and is the ninth Chinese bank to list on both the Chinese mainland and Hong Kong exchanges.

TELECOMS

Huawei to Build RD Center in India

Huawei Technologies (華為技術有限公司)， a leading Chinese telecom solutions provider， announced it will invest USD 120 to 150 million in a research and development center in Bangalore， the technology hub of India. The center is expected to open in early 2013 and will focus on designing and developing software for the Indian market. It will be the largest RD center the Shenzhen-based company has established outside China.

PHARMACEUTICALS

GSK Buys China’s Vaccine Company

Glaxo Smith Kline， the largest pharmaceutical manufacturer in England， has agreed to pay GBP 24 million (USD 38.8 million) for the remaining 51% stake in Shenzhen GSK-Neptunus Biologicals (深圳葛蘭素史克海王生物制品有限公司)， the joint venture between GSK and Shenzhen Neptunus Interlong Bio-Technique (深圳市海王英特龍生物技術股份有限公司). The deal will make GSK the sole owner of the Shenzhen-based bird flu vaccine producer and help the British company expand its vaccine business in China.

TRAVEL

Home Inns Acquires Motel 168

Nasdaq-listed Home Inns Hotels Management (如家酒店集團)， the largest budget hotel chain in China， has agreed to pay Morgan Stanley USD 470 million in cash and stock for 100% of Motel 168 International Holdings (莫泰168國際控股公司)， a leading budget hotel chain based in Shanghai. The transaction is expected to be completed by the end of this year. Home Inns has 848 hotels with 97，321 rooms in more than 150 cities on the Chinese mainland. Motel 168 has 281 stores with 45，669 rooms in 81 cities on the mainland. After the deal， Home Inns will own over 1，120 hotels in 170 cities in China.