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June 27 – Xiaomi, a Beijing-based maker of Android-backed smartphones priced ¥1,999, received $216 million in its latest round of fundraising, chairman Lei Jun said. The company now has a valuation of ¥4 billion. Lei said the funding was from an international investment firm but declined to name it. Lei also said the company would not be considering an IPO in the next five years. Xiaomi received a total of $131 million in its previous two rounds of funding.
http://finance.qq.com/a/20120627/001538.htm
June 26 – South Korea's Daewoo International Corp agreed to sell its cement plant in Shandong province to China National Building Materials Group Corp for ¥414 million, marking China's largest cement asset acquisition. The plant became operational in June 1997 and is able to churn out 7,200 tons of cement per day.
http://www.eeo.com.cn/2012/0625/228797.shtml
June 26 – Hanlong Group, a privately-owned manufacturing conglomerate based in Sichuan province, said its ¥10.5 billion bid to acquire Sundance Resources Ltd has been approved by Australia's foreign investment watchdog.
http://finance.qq.com/a/20120626/000304.htm
June 26 – China's mergers and acquisitions overseas totaled $11.2 billion between January and May, representing 39.3% of the nation's non-financial offshore investment, according to the Ministry of Commerce.
http://economy.caijing.com.cn/2012-06-26/111911476.html
June 25 – Diva, a Bordeaux wine exporter, said Bright Dairy & Food Co (SHA: 600597) will purchase a 70% stake in it. Diva collects 45% of its revenue from China.
http://cn.reuters.com/article/chinaNews/idCNCNE85O04320120625
June 21 – The value of mergers and acquisitions involving Chinese firms adds up to $84.6 billion so far this year, up 2.6% from the same period of last year, according to data from Thomson Reuters Corp (NYSE: TRI). The value of China-involved mergers and acquisitions made up 8.7% of the world's total during the period, up from 6.2% a year earlier.
http://cn.reuters.com/article/chinaNews/idCNCNE85K01H20120621
June 20 – Tianli Environmental Engineering Co (SHE: 300156) said it plans to spend ¥100 million purchasing 51% of Jiangxi Longfu Mining Co, which posted ¥1.74 million in revenues and ¥1 million in net losses for the first two months of this year. Tianli said the deal will help it diversify its business.
http://www.yicai.com/news/2012/06/1832681.html
June 20 – Qinghai Salt Lake Industry Co (SHE: 000792) said its magnesium subsidiary plans to pay $4.1 million for a 30% stake in Magontec Ltd, an Australia-listed magnesium producer. Magontec will use the money to expand its Qinghai plant, which is capable of making 56,000 tons of magnesium alloys per year.
http://www.yicai.com/news/2012/06/1832824.html
$1 = ¥6.32
@2011 China Economy @ The China Perspective.
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