Tag: M&A

Asian Group Takes Over Landmark Building at Zurich’s Paradeplatz | finews.asia

“Savoy Baur en Ville, one of Zurich’s top hotels, will close its doors by the end of 2022, only to reopen two-and-a-half years later under a new name and new management. The renovation is the fourth in the long history of this landmark building at Paradeplatz.

The Mandarin Oriental Hotel Group will take over the management of Savoy Hotel Baur en Ville, the luxury hotel at Paradeplatz in Zurich. Even after the handover of operational responsibility, the ownership will remain the same though: Credit Suisse (CS) will retain its majority stake in the renowned hotel, according to a statement released on Monday.”

Read the full article @ finews.asia:

Asian Group Takes Over Landmark Building at Zurich’s Paradeplatz
Savoy Baur en Ville, one of Zurich’s top hotels, will close its doors by the end of 2022, only to reopen two-and-a-half years later under a new name and new management. The renovation is the fourth in the long history of this landmark building at Paradeplatz.
…

After the sale to China, the old GC no longer exists | NZZ

“After 17 years of unsuccessful searches, Grasshopper Fussball AG has found new donors. Hong Kong’s Champion Union HK Holdings Limited takes over the majority of the shares – and immediately changes the management. GC now has a survival perspective, but faces a future that is one thing above all: unknown.”

Read the full article @ NZZ:

Das alte GC gibt es nach dem Verkauf nach China nicht mehr
Nach siebzehn Jahren erfolgloser Suche hat die Grasshopper Fussball AG neue Geldgeber gefunden. Die Champion Union HK Holdings Limited aus Hongkong übernimmt die Aktienmehrheit – und wechselt gleich das Management aus. GC hat nun zwar eine Überlebensperspektive, steht aber vor einer Zukunft, die vor…

Traditional football club GC is sold to China | finews.ch

“After a long search, the owners of the Grasshoppers football club found a buyer: the wife of Fosun owner Guo Guangchang took over the majority of the withering club from Zurich. She buys a club that is on the ground.

[…]

Hong Kong-based Jenny Wang’s Champion Union takes over 90 percent of the shares owned by Stüber and Anliker. Wang is the wife of Guo Guangchang, whose Fosun Group already owns the English association Wolverhampton Wanderers.”

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Traditionsfussballclub GC wird nach China verkauft
Nach langer Suche haben die Besitzer vom Fussballclub der Grasshoppers einen Käufer gefunden: die Ehefrau von Fosun-Besitzer Guo Guangchang übernimmt die Mehrheit am serbelnden Zürcher Verein. Sie …

China’s M&A activity will rebound in second half as some dealmakers press on despite coronavirus restrictions, says PwC | SCMP

“While deals are seen dropping sharply in the first half, some private equity buyers are still negotiating with sellers despite travel restrictions, cities in lockdown.
China’s total M&A deal value fell 14 per cent in 2019 to US$559 billion, the lowest in five years, driven primarily by a sharp 37 per cent drop in outbound transactions, according to data released by PwC on Thursday.

Coronavirus won’t dampen Chinese dealmaking for long, says PwC
China’s mergers and acquisitions activity has taken a devastating hit from the health crisis gripping the country. But levels are likely to rebound in the second half of the year as some dealmakers press on with negotiations despite the travel restrictions and quarantine measures put in place to com…

Even more China: Syngenta is increasingly detaching from its Swiss roots | NZZ

The owner Chem China wants to bring the agrochemical business of another Chinese state company, the Sinochem company, into the Basel group. At the same time, Syngenta receives a new CFO with experience in China.

@ NZZ | January 7, 2020

Bühler sells China-based flour ingredient business to Bakels | FoodBev Media

Bühler has announced that it has sold its flour ingredient business to global bakery ingredients group Bakels for an undisclosed sum. The deal includes all shares of China-based Bühler Bangsheng Food Ingredients (Guangzhou), in a move that will strengthen Bakels’ position in China.

@ FoodBev Media (English) | January 2, 2020

Chinese companies buy traditional Swiss companies | Die Volkswirtschaft

“Takeovers by Chinese private companies are less in the public eye: Since 2002, private companies have been allowed to make cross-border takeovers. Of the 498 M&A deals by Chinese companies worldwide in 2015, three quarters were made by private companies. Between 2010 and 2017, the share of private companies in China’s gross domestic product rose from around 20 percent to 60 percent. Four fifths of all workers in China are now employed in the private sector.

In Switzerland, more than three quarters of 80 companies with Chinese owners in 2017 came from the private sector. The acquisitions include traditional companies such as the machine manufacturer Saurer, the knitting machine manufacturer Steiger, the drinking bottle manufacturer Sigg, the shoe manufacturer Bally and the design team of the facade manufacturer Schmidlin.”

Acquired company
(founding year)		Product, IndustryChinese investor
(founding year)		Year of the acquisition
Sigg Switzerland Bottles, Frauenfeld
(1908)		manufacturer of thermos bottlesHaers
(1996)		2016
Steiger, Vionnaz
(1949)		textile machineryNingbo Cixing
(1988)		2010
Designteam Schmidlin, Basel
(1936)		facade engineeringYuanda
(1993)		2008
Source: Juan Wu, University of Freiburg (2019)

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Chinesische Firmen kaufen Schweizer Traditionsunternehmen | Die Volkswirtschaft – Plattform für Wirtschaftspolitik
Die Finanzkrise traf das Schwellenland China weniger stark als die meisten Industriestaaten. Dies eröffnete chinesischen Unternehmen Investitionsmöglichkeiten im Ausland. Entsprechend wuchs die Zahl der chinesischen Firmenübernahmen im Ausland (Mergers & …

Who is going to slay Mammut? These potential buyers are campaigning for the outdoor label | Handelszeitung

Mammut should cost around 400 million Francs. The buyers are probably not from Switzerland, but from China or the USA.

@ Handelszeitung | December 11, 2019

First indications: will Mammut be sold to China? | Aargauer Zeitung

The conzzeta conglomerate wants to sell the traditional Mammut brand. Most likely abroad – maybe to China. There are signs that indicate this.

@ Aargauer Zeitung | December 9, 2019

First indications: will Mammut be sold to China? | Aargauer Zeitung

The Conzzeta conglomerate wants to sell the traditional Mammut brand. Most likely abroad – maybe to China. There are signs that indicate this.

@ Aargauer Zeitung | December 9, 2019

Steigenberger Hotels sold to China for 700 million euros (7亿欧元：中国买下包括瑞士在内多国的百家酒店) | Swissinfo

The German hotel group Steigenberger comes into Chinese hands. The Egyptian tourism entrepreneur Hamed El-Chiaty sells the Steigenberger umbrella company Deutsche Hospitality to the Chinese hotel operator Huazhu for 700 million euros.

@ Swissinfo.ch | November 4, 2019

据11月4日的消息，中国酒店集团华住以7亿欧元的价格从埃及旅游业大亨Hamed El-Chiaty手中成功收购德意志酒店集团(Deutsche Hospitality)100%股权-瑞士两家大酒店属于该集团。

@ Swissinfo.ch | November 4, 2019

ABB to buy 67% stake in Chinese EV charging tech firm | Renewables Now

Switzerland’s ABB (VTX:ABBN) on Monday announced it will acquire a 67% stake in Shanghai Chargedot New Energy Technology Co Ltd, a Chinese company offering charging solutions for electric vehicles (EVs).

The Swiss-based power and automation group said it can raise the stake further in the next three years.

@ Renewables Now | October 29, 2019

China Is Struggling to Offload Foreign Acquisitions, From Yachts to Pizza | Swissinfo

China Inc. is struggling to offload overseas businesses and the accompanying debt in an increasingly volatile market.

In just a few weeks, companies from yacht makers to luxury clothing and pizza outlets — acquired by Chinese firms in recent years — have either scrapped planned initial public offerings or sought alternatives to reduce their debt piles.

@ Swissinfo.ch| October 22, 2019

CNOOC Head Moves to SinoChem to Smooth State-Owned Energy Merger | Caixin

The former chairman of China’s biggest offshore oil and gas company has been appointed general manager of state-owned energy giant SinoChem to oversee its mega-merger with ChemChina.

The news comes as ChemChina reportedly prepares to list Swiss pesticide-maker Syngenta AG, which it bought in 2017 for $43 billion — in the largest overseas acquisition by a Chinese company to date.

@ Caixin | September 2, 2019

EY: Swiss companies are becoming less and less attractive to Chinese investors | moneycab

“The reluctance of Chinese companies to take over companies in Switzerland and Europe continues: in the first half of this year, only 81 takeovers and company holdings were counted across Europe – 27 percent less than in the same period last year when 113 European companies still had a Chinese owner. With hardly any large transactions, the investment volume declined significantly by 84 percent from $ 15.3 billion to $ 2.4 billion.”

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EY: Schweizer Unternehmen verlieren zunehmend an Attraktivität für chinesische Investoren | Moneycab
Das Transaktionsvolumen chinesischer Unternehmen hierzulande ist im ersten Halbjahr von 387 Mio USD 96 Mio geschrumpft.

China Moly takes full control of ex-Dreyfus metals unit for $518 million | Reuters

China Molybdenum Co, majority owner of a huge copper-cobalt mine in the Democratic Republic of Congo, said on Thursday it had completed the acquisition of all of IXM, formerly the metals business of trading house Louis Dreyfus, for $518 million.

@ Reuters | July 25, 2019

Yingqu Technology: A wholly-owned subsidiary in Hong Kong holds 76% of each of SDH and SDW | Sina.cn

Yingqu Technology announced that recently, Intretech (HK) Co., Limited, a wholly-owned subsidiary of the company in Hong Kong, has paid the original equity shareholders of the Swiss company SDH Holding SA and SDATAWAY SA in the second phase of the equity purchase agreement for the 2019 equity transfer. About 2.172 million Swiss francs (approximately 15.51699 million yuan). At the same time, the transaction subject completed the 6% equity transfer of SDH and SDW each in accordance with the terms and conditions of the Equity Acquisition Agreement. Since the date of settlement, Yingqu Hong Kong has held 76% of each of SDH and SDW.

@ Sina.cn | July 19, 2019

EU: Commission clears acquisition of IXM by CMOC | Competition Policy International

The European Commission has approved, under the EU Merger Regulation, the acquisition of IXM of the Netherlands by CMOC Limited, a wholly owned subsidiary of China Molybdenum Co. Ltd (CMOC), of China.

@ Competition Policy International | July 1, 2019