This article is by: The Guardian
Read more about it here: Asian billionaires embark on UK spending spree as pound nosedives
An excerpt from The Guardian:
China and Hong Kong’s super-rich buy up everything from skyscrapers to private schools. Chinese companies have made 15 big acquisitions in the UK so far this year, spending £6.75bn ($8.3bn) – already more than the $6bn spent on 23 deals last year.
Among the UK firms sold to the Chinese or facing takeover bids so far this year:
- The money transfer company WorldFirst was sold to Ant Financial, reportedly for £520m.
- The billionaire Zhang Lei’s Hillhouse Capital picked up Loch Lomond Distillers for £400m.
- The Chinese conglomerate Fosun International, which was founded by the Chinese billionaire Guo Guangchang, owns Wolves FC and is in talks to buy the 178-year-old package holiday operator Thomas Cook.
Chinese companies are also looking at buying up more of the UK’s private schools. Harrow and Dulwich College have long-established Chinese outposts, five UK schools opened up in China last year and another nine are expected this year.
Your On-the-Ground People in China.
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