{"id":19818,"date":"2016-07-15T15:27:44","date_gmt":"2016-07-15T08:27:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-fight-to-control-chinas-biggest-developer-just-got-more-interesting\/"},"modified":"2016-07-15T15:33:14","modified_gmt":"2016-07-15T08:33:14","slug":"a-fight-to-control-chinas-biggest-developer-just-got-more-interesting","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-fight-to-control-chinas-biggest-developer-just-got-more-interesting\/","title":{"rendered":"A fight to control China\u2019s biggest developer just got more interesting"},"content":{"rendered":"


\nVanke, forced into a white knight deal, could be taking the fight against bellicose shareholders to New York
\nThe Vanke Pavlilion at the Milano expo 2015. Image credit: Davide Oliva (Flickr)
\nShenzhen-based developer China Vanke Co and its partners are reportedly hammering out a deal to acquire commercial property firms from New York City-based asset manager Blackstone Group and other third parties for CNY12.9 billion (USD1.9 billion), Reuters reported.
\nThe deal, announced Tuesday, identified neither the partners nor the third parties involved but revealed that Vanke would be shelling out CNY3.9 billion (USD583.1 million) toward the acquisitions.
\nThis announcement comes amid a boardroom tussle that has seen state-owned real estate players angling for a bulk of shares in Vanke, the largest publicly traded developer in mainland China. In a move widely seen as capitulating to a white knight, Vanke announced last month that it would be taking over SZMC Qianhai International Development Co, a unit of state-owned rapid transit operator Shenzhen Metro, in a share sale worth CNY45.6 billion (USD6.9 billion).
\nInterestingly, an independent non-executive director at Vanke, Zhang Liping, abstained from the vote approving the Shenzhen Metro deal due to talks with Blackstone, his employer.
\nTwo of Vanke\u2019s biggest shareholders, financial conglomerate Baoneng Group and the state-run China Resources, have questioned the deal as well as the legality of the vote exclusion. Baoneng has been calling for the dismissal of Vanke founder Wang Shi from the chairmanship.
\nNow with 20.65 percent of Vanke equity, Shenzhen Metro has effectively diluted Baoneng and China Resources\u2019 shares, foiling a concerted takeover offer from the two.
\nIn a recent post on Weibo, Hua Sheng, another non-executive director at Vanke, alleged that China Resources funded Baoneng\u2019s successful bid last year to take Vanke\u2019s majority stake.
\nWang has come on record decrying Baoneng\u2019s efforts as a \u201chostile takeover\u201d from a company that \u201clacks credibility.\u201d
\nhttp:\/\/www.tmtpost.com\/2406477.html
\nhttp:\/\/www.wsj.com\/articles\/china-vanke-moves-to-end-potential-takeover-battle-within-weeks-1450685154
\n
\nSource : property-report.com
\nRead more…A fight to control China\u2019s biggest developer just got more interesting<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Vanke, forced into a white knight deal, could be taking the fight against bellicose shareholders...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-19818","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-59E","jetpack-related-posts":[{"id":102696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/record-high-sales-at-chinese-developer-vanke-which-unveiled-to-survive-slogan-in-2018\/","url_meta":{"origin":19818,"position":0},"title":"Record high sales at Chinese developer Vanke, which unveiled \u2018to survive\u2019 slogan, in 2018","date":"January 4, 2019","format":false,"excerpt":"\r China Vanke, mainland China\u2019s second-largest property developer by sales, said on Friday it generated 606.95 billion yuan (US$88.28 billion) in sales last year, a record high for the company. Vanke said contracted sales in December were up by 8 per cent compared with the previous month, generating 63.01 billion\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":163618,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-china-vanke-reports-us2-3-billion-loss-amid-sales-slowdown\/","url_meta":{"origin":19818,"position":1},"title":"Developer China Vanke reports US$2.3 billion loss amid sales slowdown","date":"October 31, 2025","format":false,"excerpt":"\r Developer China Vanke reported a deeper third-quarter loss, highlighting mounting challenges as the prolonged property market downturn continues to weigh on its sales. The Shenzhen-based company posted a loss of 16.1 billion yuan (US$2.3 billion) in the three months ended September 30, roughly doubling its loss from a year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116890,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vanke-chinas-third-largest-developer-seeks-to-ease-coronavirus-pain-by-floating-additional-shares-in-hong-kong-and-raising-us1-billion\/","url_meta":{"origin":19818,"position":2},"title":"Vanke, China\u2019s third-largest developer, seeks to ease coronavirus pain by floating additional shares in Hong Kong and raising US$1 billion","date":"June 4, 2020","format":false,"excerpt":"\r China Vanke, the mainland\u2019s third-largest home builder, aims to raise HK$7.87 billion (US$1.01 billion) in fresh capital to repay overseas debt and boost its working capital by floating additional shares in Hong Kong.In a filing to the city\u2019s exchange on Thursday, Vanke said it will sell 315.59 million shares\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":149261,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-china-vanke-forecasts-record-us6-2-billion-loss-amid-management-reshuffle\/","url_meta":{"origin":19818,"position":3},"title":"Developer China Vanke forecasts record US$6.2 billion loss amid management reshuffle","date":"January 27, 2025","format":false,"excerpt":"\r New chairman\u2019s state-linked background sends positive signals, but company\u2019s fate still depends on a sales recovery, an analyst says.\r \r Source : South China Morning Post\r Read more...Developer China Vanke forecasts record US.2 billion loss amid management reshuffle","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":144321,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-vanke-puts-shenzhen-land-up-for-auction-as-developer-trims-noncore-assets-to-ease-us147-billion-liabilities\/","url_meta":{"origin":19818,"position":4},"title":"China Vanke puts Shenzhen land up for auction as developer trims noncore assets to ease US$147 billion liabilities","date":"May 8, 2024","format":false,"excerpt":"\r Developer puts another noncore asset on the chopping block to bolster its liquidity and appease creditors, part of its three-pronged strategy to overcome a financial crisis.\r \r Source : South China Morning Post\r Read more...China Vanke puts Shenzhen land up for auction as developer trims noncore assets to ease\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shui-on-land-sells-chongqing-assets-to-china-vanke-for-4-1-billion-yuan\/","url_meta":{"origin":19818,"position":5},"title":"Shui On Land sells Chongqing assets to China Vanke for 4.1 billion yuan","date":"May 27, 2017","format":false,"excerpt":"\r Shui On Land, the property developer founded by tycoon Vincent Lo Hong-sui, has sold one of its largest mixed commercial projects in mainland China for 4.1 billion yuan (US$596.3 million). In a statement to the Hong Kong stock exchange on Friday night, Shui On said it would reap a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/19818"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=19818"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/19818\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=19818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=19818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=19818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}