HSBC to Acquire Citigroup’s China’s Consumer Wealth Business

M&A

Singapore’s GIC Looking to Grab Stake in Vietnamese Grocer

Singapore’s GIC (Government Investment Corp), the country’s sovereign fund, is looking to buy a 20% stake in Vietnamese grocer, Bach Hoa Xanh. The grocer is Vietnam’s third-largest grocery retailer.

BANKING

HSBC to Acquire Citigroup’s China’s Consumer Wealth Business

HSBC continues to fortify it’s business in Asia with word that the British bank will acquire Citigroup’s Consumer Wealth Management business in China. No official announcement has been made as of the date of this post.

REAL ESTATE

China’s Evergrande Chairman Under Scrutiny

As one of China’s largest property developers, Evergrande, the embattled property company’s Chairman, Hui Ka Yan, is being subjected to “mandatory measures” by Chinese authorities due to suspicion of committing crimes.