Deals
Losses from China Overseas Takeover Binge Are Piling Up Fast
- Bets on Cirque du Soleil, PizzaExpress undone by pandemic
- Outbound China M&A down 25% this year as memory of peak fades
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Chinese buyers have not only stopped snapping up iconic overseas assets, the coronavirus pandemic is ravaging the targets of deals that defined a headier era.
Whereas some prolific acquirers such as HNA Group Co. and Anbang Insurance Group Co. began falling into disarray before the recent crisis, the impact on investments in sectors hit hardest by the outbreak means healthier owners are now feeling the pain.