China's Gome Electrical Appliances Holding Ltd plans to buy Beijing Dazhong Home Appliances Retail Co Ltd for CNY3.83 billion (USD617 million), formalizing its control of a company it has been managing for around eight years.
Gome said it would buy the whole of Beijing Dazhong from Beijing Zhansheng Investment Co Ltd in a deal set off against a CNY3.6 billion loan previously extended to Beijing Zhansheng, with the remainder paid in cash.
McDonald’s, the world’s biggest hamburger chain, highlighted beverages as one of its key growth opportunities at a daylong presentation for investors on Thursday.
McDonald’s CEO Don Thompson noted that coffee is one of the fastest growing categories in its global drinks business and said that the company has less than its “fair share” of the market. When asked to identify competitors in the space, Thompson chose to keep the discussion broad.
Pressured surfwear retailer Billabong has sold another of its brands and completed an AUD325 million (USD299.4m) bridge loan to pay off looming debts.
DaKine, a maker of backpacks, luggage and outerwear for snowboard, skiing, surfing and skating, was sold to US private equity firm Altamont Capital Partners for AUD70 million.
It is the second brand sold by Billabong in 15 months; it offloaded a 48.5 percent stake in Nixon accessories in April 2012.
Thailand's Home Product Center Plc (HMPRO), operator of the HomePro chain, plans to issue debentures worth THB4-5 billion to raise funds for branch expansion.
Wannee Juntamongkol, a senior vice-president, said the company will spend up to THB10b this year, twice as much as last year, to add hardware and home-improvement stores across the country.
Plans call for opening nine HomePro hardware stores nationwide this year – one in Greater Bangkok and eight upcountry. There will be 62 stores by year-end, up from 53 in 2012.
Alibaba Group, China's largest e-commerce company, plans to set up a financial service unit to serve small business owners as it expands into offering more value-added services. Alibaba's financial unit is merging with Alipay to form the new venture that will offer small loans of a maximum CNY5,000 (USD803) and virtual credit card services for small business owners and consumers.
Alibaba Group will offer collateral-free credit loans to qualified small business owners in Guangdong Province as China's largest e-commerce company expands its financing arm. There are as many as 10 million registered Alibaba members in the province and eligible vendors may get a maximum loan of CNY3 million (USD483,871), Alibaba said on Monday.
DanaInfra Nasional Bhd, a unit owned by Malaysia’s Finance Ministry, launched on Tuesday a 10-year Islamic bond worth MYR300 million (USD98.9 million) aimed at retail investors to raise funds for the country’s largest infrastructure project.
DanaInfra, which was created last year to facilitate funding for large infrastructure projects, will draw the amount from an MYR8 billion (USD2.6 billion) bond programme established to cover costs for the planned Mass Rapid Transit (MRT) rail system.
It's been likened to a piece of toast, a device for elephants and a throwback to the 1980s-style brick phone. And yet, despite all the sniggering, Samsung Electronics has sold five million of the phone/tablet Galaxy Note, helping drive its booming handset profits in the quarter just ended.
Alibaba.com, which operates an e-commerce website linking Chinese businesses to overseas buyers, posted a 6 percent fall in fourth-quarter net profit, the first fall in more than two years, as a weak global economy slowed exports.
Alibaba Group has signed a USD3 billion loan, giving it the committed funding required for taking Alibaba.com private, sources told Basis Point, a Thomson Reuters publication, on Monday.
J-REP, a specialist provider of Japanese logistics solutions, majority owned by Macquarie Goodman Japan Pte Ltd, has announced that it secured a non-recourse three-year senior term loan of JPY1.9 billion (USD22.3 million) from ING Bank N.V., Tokyo branch. The facility will be used to fund the construction of J-REP Logistation Moriya in Japan.