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Huarong tries to solve US$46b bond obligation

Business | Asset management/M&A
2009-11-21

HUARONG Asset Management Co, which manages billions of dollars of bad debt spun off from the Industrial and Commercial Bank of China in the 1990s, is still working on a plan to address a massive bond obligation that...

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China's US$ millionaires set to double

Business | Asset management/M&A
2009-11-20

THE number of United States-dollar millionaires in China is set to nearly double in five years, luring private bankers eager to help them invest an expected combined wealth of more than US$7.6 trillion by 2013, Boston...

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Goldman and Buffett team up in US$500m philanthropic move

Business | Asset management/M&A
2009-11-19

GOLDMAN Sachs Group Inc is teaming up with billionaire investor Warren Buffett to invest US$500 million to provide thousands of small business owners across America with college scholarships and boost their access...

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Firm to reform SOEs and act as fund channel

Business | Asset management/M&A
2009-11-9

SHANGHAI'S Changning District yesterday established a company to reform state-owned enterprises and serve as a financing platform for companies in the area. The Shanghai Changning State-owned Assets Management...

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Stock jump drives mainland rich list

Business | Asset management/M&A
2009-11-6

THE combined wealth of the 40 richest people on the Chinese mainland more than doubled to US$106 billion this year from US$52 billion in 2008, thanks to the country's booming stock market, Forbes China reported yesterday....

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Outbound M&A deals set to carry on in 2010

Business | Asset management/M&A
2009-11-6

GOVERNMENT encouragement and the trend by Chinese companies to expand overseas fueled the increase in outbound merger and acquisition deals and it's expected that these would continue next year, an industry report...

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Overseas M&A deals increase

Business | Asset management/M&A
2009-11-5

CHINESE merger and acquisition deals overseas picked up this year after government stimulus plans and the trend is expected to continue next year, an industry report said today. The value of quarterly merger and...

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Retailer's IPO set to boost Yu's wealth

Business | Asset management/M&A
2009-10-27

CHINESE scholar and author Yu Qiuyu will possibly see his wealth swell by as much as 150 million yuan (US$22 million) on account of his 1.5-percent stake in a local retailer that is set to list on the Shenzhen Stock...

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CIT Group to change its debt restructuring

Business | Asset management/M&A
2009-10-19

CIT Group Inc, a major lender to small and mid-size businesses that has struggled under mounting losses and tight credit availability, has amended its debt restructuring offer to enlist more bondholder support. The...

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Nation's rich defy crisis gravity

Business | Asset management/M&A
2009-10-14

CHINA'S super-wealthy seem to have put the financial crisis behind them: The average worth of the Chinese mainland's richest 1,000 people grew 30 percent to US$571 million in the past 12 months, according to a report...

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UK seeks US$25b from assets sale

Business | Asset management/M&A
2009-10-13

THE British government is holding a fire sale of public assets, including the undersea Channel rail link, to raise 16 billion pounds (US$25 billion) as Prime Minister Gordon Brown warned yesterday that the country...

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Stanford puts US$1 billion of portfolio on market

Business | Asset management/M&A
2009-10-10

STANFORD University is trying to sell US$1 billion of its US$12.6 billion portfolio of assets including investments in venture capital, its head of investments said on Friday. The top-tier university nestled in...

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Mirae signs joint-venture contract

Business | Asset management/M&A
2009-9-23

MIRAE Asset Financial Group, South Korea's largest mutual fund manager, has signed a contract with two Chinese firms to establish a joint venture in China. Mirae will invest 25 million yuan (US$3.65 million) in...

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New CEO faces new landscape

Business | Asset management/M&A
2009-9-12

MORGAN Stanley's incoming CEO will be facing a drastically different landscape on Wall Street from when John Mack took over in 2005. James Gorman is poised to take over a bank that some say is still searching...

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Huarong targets new businesses

Business | Asset management/M&A
2009-9-4

HUARONG Asset Management Corp is considering setting up and investing in equity or securities funds as part of efforts to transform itself into a competitive financial group, Zheng Wanchun, its vice president, said....