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Tsinghua to acquire the remaining 49% stake in New H3C Technologies from Hewlett Packard for $3.5bn.
CPP Investments discloses over $3.7bn in Asia commitments in FY2023. (FS)
GF Securities plans to buy $140m Value Partners stake. (FS)
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Tsinghua to acquire the remaining 49% stake in New H3C Technologies from Hewlett Packard for $3.5bn.
Unisplendour , a Chinese information technology and communications company under the Tsinghua University, agreed to acquire the remaining 49% stake in 新华三集团 , a China-based joint venture, from 惠普企业服务 , a multinational information technology company, for $3.5bn.
Hewlett Packard is one step closer to pulling out from its China-based information technology equipment joint venture New H3C Technologies, after Chinese partner Tsinghua Unisplendour announced a plan to acquire its remaining 49% stake in the unit.
上汽集团 , a Chinese state-owned automaker, agreed to invest $382m in QingTao, a solid-state lithium-ion battery maker.
The proposed investment, subject to the approval of QingTao's existing shareholders, will boost SAIC Motor's stake in the firm to about 15.29% from the current 4.2%.
Warburg Pincus LLC Pincus, a global private equity firm, completed the acquisition of a 90% stake in Vistaar Financial Services Pvt Ltd , an Indian small-business lender, for $250m.
"We believe micro-enterprises in semi-urban and rural India are underserved by formal sources of credit and we believe Vistaar has the potential to fulfil that need gap and be a driver for broad-based growth in those regions and communities. Warburg Pincus has a deep history in partnering with exceptional teams, particularly within financial services and looks forward to a similarly exciting future at Vistaar," Narendra Ostawal, Warburg Pincus Managing Director.
Vistaar Finance was advised by Kotak Investment Banking and Cyril Amarchand Mangaldas (led by? Reeba Chacko ). Warburg Pincus was advised by AZB & Partners (led by? Vaidhyanadhan Iyer ?and? Jeet Chaudhuri ).
CPP Investments discloses over $3.7bn in Asia commitments in FY2023. (FS)
Canada's largest pension fund, CPP Investments | Investissements RPC , committed over $3.77bn to direct and indirect investments in Asia in the fiscal ended March 31, 2023.
The pension fund spent over $2.5bn on primary and secondary investments in regional companies. During the year, it also earmarked over $1.2bn for capital commitments to Asia-focused funds.
GF Securities plans to buy $140m Value Partners stake. (FS)
广发证券 plans to buy a 20% stake in Value Partners Group from the biggest shareholders and founders, as part of a push by the mainland Chinese brokerage to expand overseas.
The Guangzhou-based brokerage is nearing an agreement to buy the stake from shareholders including Cheah Cheng Hye and V-Nee Yeh for about?$141m. The deal is subject to board approval later this week.
Cheah and Yeh currently hold 25% and 16% of Value Partners, respectively, and will both retain a smaller share in the Hong Kong-based and listed firm. It posted a loss of $70m?last year as its assets under management tumbled to $6.1bn from $10bn in 2021. The purchase price represents more than a 35% premium to the last close of Value Partners, which has tumbled over 35% since late January.
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