Deals
Chinese Fund Plans $10 Billion European Deals After Philips
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The Chinese investment firm buying Royal Philips NV’s lighting components arm is targeting more European acquisitions as large as $10 billion.
GSR Capital will pursue overseas deals in technology, clean energy and pharmaceuticals, as well as online finance, Chairman Sonny Wu said. The firm, which said Monday it plans to raise a $5 billion global acquisition fund, will target Europe where valuations are more reasonable than in the U.S., according to Wu.