Ren and a piece of his chemicals empireDESPITE the anaemic state of the global economy, companies from mainland China are investing abroad like never before. Chinese firms closed overseas deals worth $61 billion last year, according to a new analysis by the Rhodium Group, a consulting firm. This was up by 16% on 2014, and is the highest level on record. What is more, these firms are not all chasing natural resources such as oil and copper, as in the past.
On January 12th Dalian Wanda, a Chinese property and entertainment conglomerate, confirmed its long-rumoured purchase of Legendary Entertainment for about $3.5 billion. The acquisition of the American film studio behind “Jurassic World”, “The Dark Knight” and other blockbusters fulfils the dream of Wang Jianlin, Wanda’s boss, of becoming a global movie mogul. The same day, news surfaced that Beijing Kunlun Tech, a Chinese online-games firm, has acquired a majority stake in Grindr, an American social network for gay men, for about $93m.
However, perhaps the most intriguing Chinese foreign purchase of the week is the acquisition by a state-owned chemicals firm of an...Continue reading
Source: Business and finance http://ift.tt/1n2pJbm
EmoticonEmoticon