China M&A, VC Wrap for the Week of 1/12/2012

January 12 – SK E&S, a South Korean gas company, plans to pay $104 million for a 5% stake in China Gas Holdings Ltd (HKG: 0384) to further explore the Chinese market, an unamed SK E&S executive said. The South Korean company currently owns 5.9% of China Gas.
http://cn.wsj.com/gb/20120112/BCHc-015228.asp

January 10 – Weichai Group, a subsidiary of Shandong Heavy Industry Group, agreed to spend $476 million buying out Ferretti Group, a debt-ridden Italian yacht maker. The money included $226 million in acquisition of equities and $250 million in debt repayment. Ferretti's revenue fell sharply from over $1 billion in 2008 to $637 million in 2010 in the wake of the financial crisis.
http://cn.reuters.com/article/chinaNews/idCNCNE80904520120110

January 10 – Shanghai Pharmaceuticals Holding Co (SHA: 601607, HKG: 2607), China's second biggest drug distributor, said its wholly-owned subsidiary, Shanghai Zhongxi Sunve Pharmaceutical Co, acquired a 51% stake in Shanghai Jinhe Biotechnology Co, an anticancer API manufacturer. No financial details were disclosed.
http://www.yicai.com/news/2012/01/1333816.html

January 10 – Letao.com, a leading Chinese e-tailer of shoes, received $30 million in its fourth round of fundraising. The funding will keep the site afloat for three to four years even if it does not make money, Letao vice president Chen Hu said.
http://news.chinaventure.com.cn/2/20120110/73844.shtml

January 10 – Sinofert Holdings Ltd (HKG: 0297), a Chinese fertilizer maker, said it plans to spend ¥1.38 billion purchasing 100% of Xundian Longmang Phosphate Chemical Co from Tibet Longsheng and Longmang Group.
http://www.cs.com.cn/xwzx/05/201201/t20120110_3202912.html

January 9 – Sinochem Group, China's biggest supplier of chemical products, agreed to buy 10% stakes in five deep water natural gas and oil exploration blocks off the coast of Brazil from Perenco SA, Bloomberg reported. The purchases are subject to government approvals. Chinese energy companies including Sinochem Group have bid for at least $21 billion of assets in Latin America since 2010.
http://www.bloomberg.com/news/2012-01-06/sinochem-to-buy-stakes-in-brazil-deep-water-blocks-from-perenco.html

January 6 – Shanxi C&Y Pharmaceutical Co said it plans to buy 60% of peer firm, Zhejiang-based Hailisheng Group, from Yuantai Foods. Hailisheng posted ¥153.16 million in revenues and ¥16.22 million in net profits for the past year, and had ¥323.47 million in total assets and ¥81.8 million in net assets as of December 31, 2011.
http://www.yicai.com/news/2012/01/1325843.html

$1 = ¥6.32