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Cedar who? Here’s a list of obscure Chinese companies that are taking over famous targets
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When it comes to obscure Chinese companies pouncing on high-profile foreign targets, Noble Group’s suitor Cedar Holdings can point to a long line of illustrious predecessors.
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Take the example of Anbang Insurance Group, which was a company best known for its fledgling auto insurance business when it came out of nowhere to acquire New York’s Waldorf Astoria hotel in 2014. Or the Chinese peroxide producer that bought the developer of the Talking Tom app which features a talking digital cat.
Here are some past examples of firms that made a splash with large overseas deals:
Buyer | Target | Status |
Anbang Insurance Group | New York’s Waldorf Astoria hotel | Completed |
Chongqing Casin Enterprise Group and other buyers | Chicago Stock Exchange | Pending |
China Energy Reserve & Chemicals Group | The Center in Hong Kong | Agreement signed November 2017 |
Anhui Xinke New Materials | Voltage Pictures, producer of Oscar-winning film ‘The Hurt Locker’ | Cancelled December 2016 |
Zhejiang Jinke Entertainment Culture | Outfit7, maker of Talking Tom | Pending |
New China Capital Legend fund | Louis Dreyfus’s global metals business | Expected to close in first half of 2018 |
SCMP
Sources: Company filings, Bloomberg
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