July 11 – Baotou Tomorrow Technology Co (SHA: 600091), an Inner Mongolia-based chemical maker, said it agreed to sell 17.6% of Ronglian Investment and Development Co to Shanghai Ace Co (SHA: 600652), a coal producer, for ¥275 million. Ronglian, which holds 339.68 million tons of coal reserves in Inner Mongolia, posted zero revenues and a ¥1.85 million net loss for the first four months of this year. The deal will pare down Tomorrow Technology's stake in Ronglian to 31.8%. Shandong Taishan Energy Co owns the remaining 50.6%.
July 10 – LeWa Tek (Shanghai) Ltd, a developer of Chinese operating systems for Android-backed phones, received ¥50 million in venture capital funding from Tencent Holdings Ltd (HKG: 0700), an insider said, without revealing details. LeWa was founded a year ago and received ¥20 million from Shenzhen-based Green Pine Capital Partners in its first round of fundraising.
July 10 – Hawker Beechcraft, the troubled jet maker owned by Goldman Sachs Capital Partners and Canadian private equity firm Onex, agreed to sell itself to Superior Aviation Beijing, an aerospace manufacturer 40% owned by the Beijing city government, for $1.79 billion, the Financial Times reported. Hawker filed for bankruptcy protection in May. Goldman and Onex bought Hawker in 2007 for $3.3 billion. The deal is expected to give Hawker greater access to the China's aviation market, which is forecast to grow more than 10% annually for the next 10 to 15 years. The deal would still be subject to approval by the US bankruptcy court and a competitive auction process that could see further bids.
July 9 – Hebei Iron & Steel Co (SHE: 000709) said it has won regulatory approval to acquire a 60% stake in Canada-based Alderon Iron Ore Corp's Kami iron ore project for $195 million.
July 6 – Carlyle Asian Partners III purchased 49% of Mandarin Hotel Holdings Ltd, becoming its largest shareholder. Carlyle did not disclose how much it paid for the stake. The deal gives Carlyle access to Crystal Orange Hotel, Mandarin Hotel's top brand. Crystal Orange Hotel currently has six locations nationwide.
July 6 – Wanda Group, one of China's largest theater owners, won approval from the country's regulators to take over AMC Entertainment, which owns the second largest movie theater chain in North America, for $2.6 billion, including debts. Wanda also promised to inject an extra $500 million for AMC's future operations.
$1 = ¥6.32