Fri, June 19, 2009

Chinese firms' global move

Tengzhong says Hummer deal on track

BEIJING - Sichuan Tengzhong Heavy Industrial Machinery, the surprise bidder for General Motors Corp's Hummer brand, said on Sunday the deal should be concluded in the coming quarter. Full story


Coca-Cola-Huiyuan deal

China rejected a plan by the Coca-Cola company of the U.S. to take over the nation's top juice maker Huiyuan, based on anti-monopoly legislation.


Do you think now is a good time for Chinese firms to acquire overseas assets?
Hard to tell.


Minmetals' OZ Minerals deal


Nimble-footed Minmetals snaps up Aussie miner

2009-06-12 00:46:40 GMT China Daily A leading Chinese non-ferrous metal company Thursday won approval for its acquisition of a top Australian miner - only days after China's dominant aluminum company was thwarted in its bid for a bigger stake in another Australian miner.

Minmetals acquisition deal wins OZ shareholders' approval

2009-06-11 08:41:27 GMT Xinhua English by Xinhua Writers Jiang Xufeng and Xu Xingtang

OZ Minerals give Minmetals takeover green light

2009-06-11 08:41:02 GMT SYDNEY – Shareholders in Australia's OZ Minerals voted overwhelmingly in favour of a 1.396 billion US dollar offer from China's Minmetals for the majority of the company's assets, the miner said Thursday.

China to push for more Oz iron ore assets

2009-06-11 05:32:32 GMT China Daily China is set to accelerate investment in iron ore projects in Australia, the world's biggest exporter, despite the collapse of its deal to buy stakes in mines owned by Rio Tinto Group.

Sichuan company aims to buy Hummer brand


Hummer set to go clean and green after sale

2009-06-18 23:55:39 GMT China Daily Hummer already has expertise and experience - all it needs is cash.

Tengzhong says Hummer deal on track

2009-06-15 00:50:47 GMT BEIJING - Sichuan Tengzhong Heavy Industrial Machinery, the surprise bidder for General Motors Corp's Hummer brand, said on Sunday the deal should be concluded in the coming quarter.

Tengzhong's executive expresses confidence on Hummer takeover

2009-06-12 01:51:02 GMT Xinhua English BEIJING, June 12 (Xinhua) -- China's Sichuan Tengzhong Heavy Industry Machinery Co Ltd, which is reported having reached a tentative agreement on purchase of General Motors (GM) Hummer brand last week, said it has the financial resources and expertise to clinch the bid, China Daily reported Friday.

Official: Purchase of Hummer against China's development trend

2009-06-09 10:39:17 GMT Xinhua English HANGZHOU, June 9 (Xinhua) -- A domestic company's purchase of the gas-guzzling Hummer brand is against China's economic situation and the country's development, said an official with the Development Research Center of the State Council, the country's Cabinet Tuesday.

Chinalco's Rio Tinto deal


Chinalco registers for Rio Tinto rights issue

2009-06-18 02:03:53 GMT Xinhua English BEIJING, June 18 -- Chinalco has registered for the $15.2-billion rights issue of global miner Rio Tinto, but the State-owned non-ferrous mineral processor has not yet made up its mind on whether it wants to participate in the world's fifth largest rights issue or not.

Chinese official says proposed Rio, BHP tie-up has "strong monopolistic color"

2009-06-16 14:43:23 GMT Xinhua English ANSHAN, Liaoning, June 16 (Xinhua) -- An official with the Ministry of Industry and Information Technology (MIIT) said Tuesday that the proposed alliance of Rio Tinto and BHP Billiton had a "strong monopolistic color" and Chinese firms would watch it closely and find ways to cope with it.

Rio Tinto's backdown shows short-sightedness, prejudice

2009-06-09 21:51:37 GMT Xinhua English BEIJING, June 9 (Xinhua) -- A 19.5 billion U.S. dollar agreement between Australian mining firm Rio Tinto and Aluminum Corporation of China (Chinalco) unexpectedly failed due to Rio's last-minute change of heart.

News Analysis: Rio Tinto scraps marriage with Chinalco

2009-06-09 08:24:27 GMT Xinhua English CANBERRA, June 9 (Xinhua) -- The unilateral scrap of its marriage with Aluminum Corp. of China, or Chinalco, last Friday by Australia's Rio Tinto was a "stunning" news to most of the Chinese who have been eyeing on the progress each day on the hopeful transaction, Chinalco president Xiong Weiping told Xinhua Friday in an exclusive interview in Canberra.