US counterespionage officials are investigating al
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Posted On: 07/25/2022 5:27:50 PM
US counterespionage officials are investigating alleged contacts between Hunter Biden and members of CFIUS during the Chinese takeover of US firm making automotive parts w/ dual-use technologies.
CFIUS approved the sensitive 2015 deal, which had national security implications
CHINA IN TRANSITION
10 iconic American companies owned by Chinese investors
Here’s a look at some of the bigger business names that are owned by Chinese companies.
Chicago Stock Exchange
China wants to use the exchange to give more Chinese companies access to the U.S. market.
AMC
The nation’s largest movie theater chain was bought by Dalian Wanda Group in 2012 for $2.6 billion.
Smithfield Foods
This $7.1-billion-dollar deal, completed in 2013, remains the largest purchase of an American firm by a Chinese company.
Legendary Entertainment Group
After getting a taste of show business with the AMC purchase, Dalian Wanda bought a movie studio to go with its theaters in 2016. The $3.5 billion deal put Dalian in charge of the co-financer of “Jurassic World,” “Warcraft” and “Pacific Rim.”
GE Appliances
Stoves, refrigerators, washers and dryers from General Electric have been around for more than 100 years, but starting last year, the appliance division of the iconic company has been Chinese owned. The $5.4 billion deal by Qingdao Haier was China’s largest acquisition of an overseas electronics business.
The Waldorf Astoria
Anabang Insurance Group, the buyer of this well-known Manhattan hotel, was unknown in 2014, when it paid nearly $2 billion for the establishment. But it has since become a more common name to investors, buying U.S. insurer Fidelity & Guaranty Life last fall and attempting to buy Starwood Resorts, only to lose out to Marriott at the last minute.
Strategic Hotels & Resorts
Anabang’s interest in the hotel sector wasn’t limited to the Waldorf and Starwood. Last year Blackstone Group sold its line of luxury hotels to the Chinese company for $3.93 billion (roughly $6 billion, including debt). The deal put Anabang in charge of 16 properties, including assorted Ritz-Carlton locations in California, the Fairmont Scottsdale in Arizona and the Four Seasons Resort in Jackson Hole, Wyoming.
Riot Games
In 2011, though, Chinese holding company Tencent bought a majority stake in Riot for $400 million and in 2015 bought the rest of the company for an undisclosed amount. Tencent also holds investment stakes in Activision-Blizzard and “Gears of War” creator Epic Games.
Ingram Micro
Last year China’s HNA Group (the same group bidding on Forbes) bought the company for $6 billion.
When the deal was finalized in December, it ended public trading of Ingram’s shares, but the company remains headquartered in Irvine, California.
Motorola Mobility
As mobile devices began to dominate the industry, it spun its handset division off into the independent Motorola Mobility, which was bought by Google in 2012. Two years later, though, the search giant announced it was selling the unit to China-owned Lenovo for $2.9 billion, making Lenovo the world’s third-largest smartphone maker.
https://www.cnbc.com/china-in-transition/
CFIUS approved the sensitive 2015 deal, which had national security implications
CHINA IN TRANSITION
10 iconic American companies owned by Chinese investors
Here’s a look at some of the bigger business names that are owned by Chinese companies.
Chicago Stock Exchange
China wants to use the exchange to give more Chinese companies access to the U.S. market.
AMC
The nation’s largest movie theater chain was bought by Dalian Wanda Group in 2012 for $2.6 billion.
Smithfield Foods
This $7.1-billion-dollar deal, completed in 2013, remains the largest purchase of an American firm by a Chinese company.
Legendary Entertainment Group
After getting a taste of show business with the AMC purchase, Dalian Wanda bought a movie studio to go with its theaters in 2016. The $3.5 billion deal put Dalian in charge of the co-financer of “Jurassic World,” “Warcraft” and “Pacific Rim.”
GE Appliances
Stoves, refrigerators, washers and dryers from General Electric have been around for more than 100 years, but starting last year, the appliance division of the iconic company has been Chinese owned. The $5.4 billion deal by Qingdao Haier was China’s largest acquisition of an overseas electronics business.
The Waldorf Astoria
Anabang Insurance Group, the buyer of this well-known Manhattan hotel, was unknown in 2014, when it paid nearly $2 billion for the establishment. But it has since become a more common name to investors, buying U.S. insurer Fidelity & Guaranty Life last fall and attempting to buy Starwood Resorts, only to lose out to Marriott at the last minute.
Strategic Hotels & Resorts
Anabang’s interest in the hotel sector wasn’t limited to the Waldorf and Starwood. Last year Blackstone Group sold its line of luxury hotels to the Chinese company for $3.93 billion (roughly $6 billion, including debt). The deal put Anabang in charge of 16 properties, including assorted Ritz-Carlton locations in California, the Fairmont Scottsdale in Arizona and the Four Seasons Resort in Jackson Hole, Wyoming.
Riot Games
In 2011, though, Chinese holding company Tencent bought a majority stake in Riot for $400 million and in 2015 bought the rest of the company for an undisclosed amount. Tencent also holds investment stakes in Activision-Blizzard and “Gears of War” creator Epic Games.
Ingram Micro
Last year China’s HNA Group (the same group bidding on Forbes) bought the company for $6 billion.
When the deal was finalized in December, it ended public trading of Ingram’s shares, but the company remains headquartered in Irvine, California.
Motorola Mobility
As mobile devices began to dominate the industry, it spun its handset division off into the independent Motorola Mobility, which was bought by Google in 2012. Two years later, though, the search giant announced it was selling the unit to China-owned Lenovo for $2.9 billion, making Lenovo the world’s third-largest smartphone maker.
https://www.cnbc.com/china-in-transition/
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