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February 4, 2021

Ant Group strikes deal with China to restructure as financial holding company

Ant Group has reportedly reached a restructuring agreement with the Chinese regulator to turn the fintech firm into a financial holding company.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  Consult our full report here and optimize your business strategy.
by GlobalData
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Similar to banks, the holding company will now be subject to capital requirements, Bloomberg reported.

The restructuring plan includes all of Ant’s businesses such as its blockchain and food delivery technology products.

Initially, Ant proposed to put only its financial operations into the new holding company, the report added citing people familiar with the matter.

The overhaul may officially take place before the start of China’s Lunar New Year holiday next week.

The latest development a month after the government of China planned to nationalise Jack Ma’s Ant and Alibaba Group, which owns one-third of Ant.

This follows a pledge by the People’s Bank of China (PBoC), the country’s central bank, to step up the “prudential oversight” of the financial activities of online platforms in the country.

The agreement is in line with a December 2020 report, in which the central bank ordered the online payments giant Ant Group to overhaul its businesses.

In the same month, the China Banking and Insurance Regulatory Commission (CBIRC) and the PBoC were planning to impose “special and innovative regulatory measures” on fintech giants including Alibaba.

In November, China slammed the brakes on Ant’s $37bn listing, which was poised to become the largest stock market debut worldwide.

According to the Bloomberg report, Ant is still exploring possibilities to revive its initial public offering (IPO) listing.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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