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Выбор редакции
18 апреля, 12:53

Another big U.S. deal for China's Anbang falls through

U.S. life insurer Fidelity & Guaranty said late Monday that it has killed a deal to be bought by the acquisitive Chinese firm Anbang for $1.6 billion.

18 апреля, 11:30

Cry uncle to Ant

Jack Ma may be giving a rival bidder a smarter way to win an M&A fight. The Alibaba chief executive’s payments division, Ant Financial, has sweetened its offer to buy

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18 апреля, 08:35

Another big U.S. deal for China's Anbang just fell through

Anbang, the acquisitive Chinese insurer with big ambitions abroad, isn't having much luck cracking America.

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17 апреля, 19:01

Ant sweetens offer for MoneyGram

CHINA’S Ant Financial has sweetened its bid for MoneyGram International Inc by over a third, beating a rival offer to gain approval from the US electronic payment firm’s board, although it still faces

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16 апреля, 22:23

Exclusive: Anbang's Fidelity & Guaranty acquisition set to fall through - sources

(Reuters) - China's Anbang Insurance Group will let its agreement to acquire U.S. annuities and life insurer Fidelity & Guaranty Life (FGL) for $1.6 billion lapse, after failing to secure all the necessary regulatory approvals, people familiar with the matter said on Sunday.

29 марта, 18:05

Kushner Family Ends Deal Talks With Anbang After Dems Blast Alleged 'Conflict'

666 5th Avenue, ironically, has been a curse to Jared Kushner ever since he purchased the tower for a then-record $1.8 billion in 2007. It was supposed to be a signature move that signaled Kushner's intention to expand beyond his family's extensive holdings in suburban apartments to more prestigious urban properties in Manhattan.  Unfortunately, Kushner's market timing couldn't have been worse with the 'great recession' paralyzing the commercial real estate market just months after his trophy purchase.  Four years later, with the property on the verge of insolvency, Kushner was forced to sell a 49.5% stake in the skyscraper to Vornado for an $80 million capital injection. Voranado later invested even more in the tower in 2012, purchasing the retail spaces at the building’s base from Kushner and others for $707 million. Meanwhile, the latest headache from 666 Fifth Avenue came after Kushner's family trust decided to pursue a potential transaction with China’s Anbang Insurance Group  which resulted in complete outrage from the left over alleged "conflicts of interest".  Now, just a couple of weeks after rumors of the deal first surfaced, the Kushner family has confirmed they ended talks with Angang to redevelop the Manhattan office tower.  Per Bloomberg: “Kushner Companies is no longer in discussions with Anbang about 666 5th Avenue’s potential redevelopment, and our firms have mutually agreed to end talks regarding the property,” according to a statement emailed by a Kushner spokesman, who declined to comment further. “Kushner Companies remains in active, advanced negotiations around 666 5th Avenue with a number of potential investors.”   A spokesman for Anbang declined to comment.   As we noted a couple of weeks ago, the potential deal with Anbang raised some eyebrows in Washington DC due to, among other things, the Chinese company's murky links to the Chinese power structure which raised national security concerns over its previous U.S. investments as well as some favorable debt relief terms contemplated in the transaction.   Per Bloomberg: Anbang will pay for most of the building and take out a construction loan of more than $4 billion to convert the property’s higher floors into luxury residential units. The Kushners have agreed to invest $750 million in the retail portion of the building and will end up with a one-fifth stake in a project that the deal document says would be valued at $7.2 billion when completed. In addition to the $400 million from Anbang, the Kushners will receive another $100 million from other investors.   An unusual consideration in the refinancing plan is the proposal to pay off a part of the mortgage known as a "hope note," which was for $115 million when Kushner Cos refinanced its debt in 2011. The loan, which was made by Barclays Plc and has since been sold off to investors, is now valued at more than $250 million because of compounded interest. But according to the deal documents, the Kushners will settle the debt for just $50 million. The Kushners declined to discuss the agreement. LNR Partners LLC, which currently oversees the debt, declined to comment.   The plan also relies on the government program known as EB-5, which grants two-year visas and a path to permanent residency to foreigners who invest a minimum of $500,000 in projects that create jobs in economically distressed areas.   Supporters argue that the program, which is overwhelmingly used on deals involving Chinese investors, attracts foreign capital and creates jobs at no U.S. taxpayer cost. But some Homeland Security officials and the General Accounting Office have warned that lax vetting has threatened to turn the program into a mechanism for the government to sell visas to wealthy foreigners with no proven skills, paving the way for money laundering and compromising national security. The deal contemplated would have valued the 41-story tower at $2.85 billion, the most ever for a single Manhattan building, including $1.6 billion for the office section and $1.25 billion for the retail section. Of course, the sheer size of the transaction combined with a questionable foreign partner and the curious timing, coming just months after Trump took over the White House, certainly contributed to the Democrats' angst. "This is a huge, huge exit strategy for an office building," said Joshua Stein, a New York real estate lawyer. "It does sound like a home run of a transaction for Kushner and his group.”   "At the very least, this raises serious questions about the appearance of a conflict that arises from the possibility that the Kushners are getting a sweetheart deal," said Larry Noble, general counsel at the Campaign Legal Center. "A classic way you influence people is by financially helping their family."   The transaction would allow the Kushner Cos.’ investment in the tower to be salvaged by lenders and businesses that could have extensive dealings with the federal government, while also permitting the Kushners to buy back into the building’s more lucrative retail spaces and maintain a 20 percent stake. So with one "conflict" removed, Democrats will have more time to focus on Kushner's coordination with Russian spies to steal a U.S. election.

Выбор редакции
29 марта, 17:43

Kushner company, Chinese firm call off development deal

The Chinese conglomerate Anbang and the family of Jared Kushner have called off talks to redevelop a Manhattan office tower.

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29 марта, 17:34

Kushner ends talks with Anbang on planned $7.5 bln NYC skyscraper redevelopment--WSJ

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

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29 марта, 17:34

President Trump's son-in-law Kushner's skyscraper deal with China's Anbang Insurance falls apart--WSJ

This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.

Выбор редакции
29 марта, 12:18

Jared Kushner's family firm ends investment talks with China's Anbang

A potential investment deal had raised ethical questions for President Trump's son-in-law.

Выбор редакции
29 марта, 12:18

Jared Kushner's family firm ends investment talks with China's Anbang

A potential investment deal had raised ethical questions for President Trump's son-in-law.

Выбор редакции
26 марта, 14:09

Anbang push to help Chinese entrepreneurs overseas

Politically connected chairman Wu Xiaohui offers €1m seed funding to would-be founders

15 марта, 19:01

Anbang not investing in tower

The headquarters building of Anbang Insurance Group is pictured in Beijing. Anbang said it is not investing in a flagship Manhattan office tower owned by the family of Jared Kushner, US President Donald Trump’s son-in-law and senior adviser. Anbang was named in a Bloomberg News report as a possible investor in a US$4 billion deal to buy the 41-floor building at 666 Fifth Avenue, according to a copy of the agreement that was being circulated to attract additional investors.

15 марта, 02:32

China's Anbang denies report of Kushner property investment

NEW YORK (Reuters) - China's Anbang Insurance Group [ANBANG.UL] said it is not investing in a flagship Manhattan office tower owned by the family of Jared Kushner, U.S. President Donald Trump's son-in-law and senior adviser.

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01 марта, 19:01

Waldorf set to transform into mixed residences

THE word “grand” matched few hotels in the world better than New York City’s Waldorf Astoria, but this bastion of gilded splendor is now closing for two to three years for a transformative makeover. The

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26 февраля, 12:52

China Investing: Winners, Losers To Watch Amid Slower Growth, Weakening RMB

Infrastructure builders, Anbang and exporters may have a good year

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29 января, 09:37

China property investment abroad hits record $33bn

Institutional purchases rise 53% on big deals from Anbang, China Life and CIC

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29 января, 09:37

China property investment abroad hits record $33bn

Institutional purchases rise 53% on big deals from Anbang, China Life and CIC

24 января, 19:01

Strong gain in overseas realty deals

Investments by Chinese mainland investors in overseas commercial and residential properties surged 53 percent from 2015 to a record US$33 billion last year, mainly boosted by insurers’ notable purchases,

06 сентября 2016, 15:26

Zerohedge.com: Сын китайского “большого генерала” рассказал о том, что стоит за оттоком капитала из Китая

В течение последнего года две темы, связанные с Китаем, периодически привлекали внимание медиа: первая тема – которую мы осветили в начале марта – связана с волной странных сделок M&A в этой стране. Как мы поясняли тогда, многочисленные китайские корпорации в… читать далее → Запись Zerohedge.com: Сын китайского “большого генерала” рассказал о том, что стоит за оттоком капитала из Китая впервые появилась .