Carlyle acquired Dainese, an Italian motorcycle riding equipment company
Private equity firm The Carlyle Group said in a statement it has acquired Italian motorcycle equipment company Dainese from investment firm Investcorp in a deal worth 630 million euros, including debt, Reuters reported. Carlyle said it hopes to expand its business in China and the United States by building out Dainese’s distribution network and further deals. With more than 1,000 employees, Dainese produces protective clothing for motorcyclists and other sports such as skiing, as well as a business specializing in crash helmets and motorcycle boots. Seven years ago, Investcorp bought Dainese from founder Lino Dainese for 130 million euros. The company was founded in 1972 and is headquartered in Vicenza, northern Italy.
Tesla responded to the acquisition of Zotye Auto: fake news
On March 13, a screenshot of a document bearing the official seal of Tesla (Shanghai) Co., Ltd. was widely circulated on the Internet. The content of the document shows that Tesla is going through the process and procedures of acquiring Zotye Auto. In response, Tao Lin, Tesla’s vice president of external affairs, refuted the rumor through her personal Weibo, calling it “blatant fake news.” Since the establishment of ST Zotye’s reorganization plan, there have been repeated rumors in the industry that the company will be acquired by a certain car company, among which the “scandal objects” include Tesla, Xiaomi, Weilai, Baoneng, CATL, etc.
Zhongsheng Group completed the acquisition of 100% equity of Renfu for US$1.3 billion
Zhongsheng Group announced that it has acquired 100% equity of Renfu China from Jardine He Group for US$1,313.98 million. Renfu China started business in China in 1994. It is the first and largest dealer group of Mercedes-Benz in South China and West China. It has a mature dealer network located in the core areas of central cities. The acquisition is in line with Zhongsheng Group’s development strategy of cultivating advantageous regions and high-quality brands, and will expand the synergy and development potential of the Group’s existing brands, and further enhance its core competitiveness and market influence.
BMW acquires Alpina
BMW Group announced that it has officially acquired the Alpina brand. The two parties have reached a relevant agreement, and Alpina has officially become the fourth largest brand under the BMW Group. At present, the BMW Group already owns four major brands including BMW, MINI, Rolls-Royce and the latest Alpina. Alpina was established in 1965. Currently Alpina sells models including D3 S, B3, D5 S, B5, XD3, XD4, B7, XB7, B8, based on BMW 3 Series, 5 Series, X3, X4, 7 series, X7 and 8 series, and Albina will carry out in-depth transformation and customization of engine, gearbox, chassis, aerodynamics, interior equipment and other parts
Robotphoenix received hundreds of millions of yuan in Series D financing, led by Primavera Capital
Robotphoenix, an industrial robot and smart manufacturing company, announced the completion of its Series D financing of several hundred million yuan. The financing was led by Primavera Capital. Founded in 2012, Robotphoenix entered the industrial robot market from parallel robots. After nearly ten years of development, it has grown into a provider of all types of robots and intelligent manufacturing systems in the light industry. In 2014, the company’s self-developed BAT ROBOT filled the gap in the Chinese market. As a high-precision and high-speed high-end body, it is different from the general low-end body. Its core performance indicators such as repeated positioning accuracy and takt time under rated load surpass those of the four foreign families of similar products. In 2018, Robotphoenix parallel robot shipments ranked No. 1 in China.
SoftBank sells $1 billion stake in South Korean e-commerce giant Coupang
SoftBank Group Corp’s Vision Fund was the seller of a $1 billion block deal that sent Coupang shares tumbling last week, according to documents received by the U.S. Securities and Exchange Commission (SEC). The SoftBank Vision Fund sold 50 million Coupang shares at an average price of $20.87 per share on March 9, cashing out $1,043.5 million, according to the filing. Last September, SoftBank sold 57 million Coupang shares at $29.685 each, cashing out about $1.69 billion. SoftBank Group invested in Coupang for the first time in 2015, and in 2018 through the Vision Fund. Coupang went public at $35 a share in New York last year in one of the largest IPOs by an Asian company on a U.S. exchange.
Rio Tinto Group acquires 49% stake in Canada’s Turquoise Mountain Resources for $2.7 billion
Rio Tinto paid $2.7 billion for a minority stake in Canada’s Turquoise Hill Resources, which holds a majority stake in Mongolia’s Oyu Tolgoi copper-gold mine, according to Bloomberg. Rio Tinto has paid C$34 ($26.60) a share in cash for about 49 percent of Turquoise Hill, the group said in a statement on Monday. Rio Tinto is set to begin the long-delayed $6.9 billion underground expansion of its Oyu Tolgoi copper-gold mine.