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HK court orders China Evergrande to liquidate with debts of $300 billion

Author

Toby Brown
January 30, 2024

Good Morning,

Energy stocks drive ASX to sixth straight win, China's growth model pushes Beijing into more trade conflicts, Woolworths New Zealand flags 42% slump in first half profits, Meloni to unveil plan to expand Italian influence in Africa, Iconic Australian dessert maker Sara Lee sold after going into administration, Reddit advised to target at least $5 Billion valuation in IPO

Let's jump in.

Before The Bell

Markets

  • Energy stocks drive ASX to sixth straight win; BHP, tech fall (AFR)

  • AI-fuelled chip rally tested by warnings on semiconductor demand (AFR)

  • Wild swings in commodity prices may temper dividend outlook (AFR)

  • Oil Climbs After Separate Attacks Escalate Middle East Tensions (BBG)

  • China's growth model pushes Beijing into more trade conflicts (RT)

Earnings and Data

  • Woolworths New Zealand flags 42% slump in first half profits (NBR)

News Summary

  • Man in ‘unexplained death’ recently married (Stuff)

  • Developers quit derelict, dangerous house project in Wellington (Stuff)

  • South Port and union negotiate ahead of strike (Stuff)

  • First residents move into new Blenheim retirement village (Stuff)

  • ‘Worst quarter for equity managers in 15 years’ (AFR)

  • Severe thunderstorms to cause 'life-threatening' flash flooding in Queensland (9 News)

  • Fury as Victoria moves not to ban duck hunting despite inquiry recommendation (9 News)

  • Developer to demolish more than a dozen of its homes in sinking Sydney suburb (9 News)

  • Albanese responds to Australian Open boos (9 News)

  • War crime accused poses 'hand-to-hand' risk to police (9 News)

  • Meloni to unveil plan to expand Italian influence in Africa (Guardian)

  • Papua New Guinea in talks with China on security cooperation (Guardian)

  • Aviation's wheelers and dealers meet under shadow of MAX crisis (RT)

  • QatarEnergy & Excelerate Energy sign 15-year supply LNG deal (RT)

Deal Flow

Investments / M&A

  • Worlds largest cement maker, Holcim, to spin off North America unit, seeking $30 Billion value (BBG)

  • Russian Tycoon Nesis’s Group sells Polymetal stake to Omani Fund (BBG)

  • From $500m to $75m: Founder’s ‘deep regret’ as bidding war ends. Software firm Whispir is now controlled by Soprano, a rival software business backed by Potentia Capital (AFR)

  • GPG Australia’s owners are seeking to sell the business in its entirety. Macquarie Capital has lined up a $2 billion stapled debt package (AFR)

  • Auto parts supplier Bapcor emerges as prime private equity target as share price sinks (AFR)

  • Offshore buyers try on bombed-out womenswear retailer City Chic (AFR)

  • Iconic Australian dessert maker Sara Lee sold after going into administration (9 News)

VC & Fundraising

  • India’s Uber-rival BluSmart pumps up EV charging with $25M investment (TC)

  • Macquarie-backed ATM company Next Payments to consider exit options (AFR)

Equity Raises

  • Reddit advised to target at least $5 Billion valuation in IPO (BBG)

  • Galan Lithium seeks $16.5m capital injection (AFR)

Debt

  • HK court orders China Evergrande to liquidate with debts of $300 billion (RT)

  • Global juggernaut Bain Capital and Sydney-based private debt investor Madigan Capital are in discussions to put together a $500 million debt refinancing for Jon Adgemis’ Public Hospitality Group, PHG (AFR)

The Daily Deck is sponsored by Industrial Equity, LLC

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