In­vest­ment: Com­pa­nies ready to seize op­por­tu­ni­ties

China Daily (Canada) - - BUSI­NESS -

The pre­vi­ous sum­mer, DalianWanda agreed to pay $451 mil­lion for Sun­seeker In­ter­na­tional Ltd, a Lon­don man­u­fac­turer of yachts that sell for as much as $20 mil­lion.

The in­creased pres­ence is partly a func­tion of China’s di­ver­si­fy­ing econ­omy, said Ni­cola Mayo, a part­ner at law firm Lin­klaters, who just re­turned to Lon­don af­ter four years in Shang­hai. “China Inc is look­ing strate­gi­cally at more sec­tors be­yond nat­u­ral re­sources.”

Some com­pa­nies are us­ing deals in the UK to strengthen their po­si­tion back home. In­vest­ment firm San­power Group this year took con­trol of House of Fraser in a trans­ac­tion valu­ing the Ox­ford Street de­part­ment store at 450 mil­lion pounds. It is plan­ning dozens of branches in China.

Pizza Ex­press ex­pects to build new restau­rants in the Chi­nese main­land, where in­ter­est in Ital­ian-style fare is ris­ing.

Wang Haibo, a 38-year-old ac­coun­tant from the coastal city of Dalian who moved to Lon­don a decade ago, can taste the change. A few years back, “the only food you could get was from Hong Kong”, he said. “Now, you can find ev­ery type of au­then­tic Chi­nese food, from all the re­gions.”

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