Sunday May 31, 2020

China's buying spree continues as cross-border deals top $113 billion

Cash-rich buyers eye hotel chains and Hollywood studios

31st March, 2016
The Chinese government has encouraged companies to gain know-how and market share through foreign transactions. Pic: Pixabay

China’s Anbang Insurance which has twice sweetened its offer to buy Starwood Hotels & Resorts is engaged in a high-stakes bidding war with Marriott to acquire the owner of the upscale Sheraton, Westin and St Regis brands.

Now, cash-rich Chinese buyers, often backed by generous lending from state banks, are trying to diversify into everything from lodging, cranes and pesticides to semiconductors, flat-screen TVs and Hollywood studios in a quest to expand into...

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