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May 7 - Beijing Enterprises Group Co paid $125.5 million increasing its stake in China Gas Holdings Ltd (HKG: 0384) from 3.28% to 8.96% to become its third largest shareholder, people familiar with the deal said. Beijing Enterprises bought the shares from Oman Oil Co.
http://cn.wsj.com/gb/20120504/BCHc-003036.asp
May 7 – China Meheco Corp (SHA: 600056), a botanical drug maker, said it will take over Henan Topfond Pharmaceutical Co (SHA: 600253) in a restructuring plan, in which a Topfond Pharma share will be traded for 0.31 shares of Meheco at ¥20.74 apiece.
http://roll.sohu.com/20120507/n342549635.shtml
May 4 – Shanghai-based Bright Food Group agreed to purchase 60% of Britain-based cereal maker Weetabix for reportedly 1.2 billion pounds from Lion Capital. The deal, which is pending regulatory approval and expected to be finalized in 2H 2012, will be the largest Chinese acquisition of a foreign food firm.
http://www.yicai.com/news/2012/05/1691496.html
May 3 – China Merchants Property Development Co (SHE: 000024) said its subsidiary, Chenghui Investment Co, plans to purchase 70.18% of Tonic Industries Holdings Ltd (HKG: 0978) for ¥161.79 million from Huaneng Ltd. Tonic posted a ¥315.45 million net profit for its 2011 fiscal year.
http://money.163.com/12/0503/06/80IGKFFF00253B0H.html
May 3 – Ddmap.com, a leading Chinese daily-life information aggregator, has received $40 million in venture capital funding from F&H Fund Management along side some other minor investors. Xu Longjiang, the site's CEO, said 90% of the money will be used to shore up its mobile internet services.
http://www.yicai.com/news/2012/05/1687697.html
May 3 – Xiamen Eagle Mining Group Co (SHA: 600711) said it paid $52.3 million for a 100% stake in Hong Kong-based Huajin Mining Ltd, gaining a 97% right to the 25,653kg of gold reserves held by Guizhou Huajin, Huajin Mining's subsidiary. Guizhou Huajin posted ¥52.49 million in revenues and ¥12.92 million in net profits for 2011.
http://www.yicai.com/news/2012/05/1687693.html
$1 = ¥6.3
@2011 China Economy @ The China Perspective.
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