Deals
D.E. Shaw Said to Be in Talks to Buy Stake in China’s TEDA
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D.E. Shaw & Co., the $21 billion hedge-fund firm, is in advanced talks to buy a stake in Chinese state-controlled investment company Tianjin TEDA International Holding (Group) Co., said three people familiar with the matter.
D.E. Shaw, based in New York, is in negotiations to acquire 15 percent to 20 percent of TEDA International for as much as 6 billion yuan ($942 million), one of the people said, declining to be identified because the talks are confidential. TEDA International oversees the Tianjin city government’s investments in financial companies including China Bohai Bank Co. and Tianjin Trust and Investment Co.