Pursuits
Fish Farms Are Next on Menu for New Hope's Billionaire Founder
- New Hope Group plans to buy Southeast Asian aquaculture firm
- Chinese group has $1.5 billion war chest for overseas M&As
Billionaire Liu Yonghao.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
The billionaire chairman of New Hope Group Co., China’s largest privately held agricultural company, is looking to buy fish-farming assets in Southeast Asia as part of a 10 billion yuan ($1.5 billion) push to expand overseas.
“We plan to acquire an aquaculture company,” Liu Yonghao, 64, said in an interview in Beijing. Though he declined to name any companies, Liu said targets need to be sizable and have good natural resources including light, water, land and low-cost labor resources.