Shanghai

Bain Capital agrees to sell its data centers in China to a consortium led by Shanghai-listed Shenzhen Dongyangguang in a ~$4B deal

Bloomberg :

Filing: Alibaba plans to spin off its Shanghai-based self-driving unit Banma through a Hong Kong IPO, reducing its stake from 44.72% to 30% post-IPO

Aileen Chuang / South China Morning Post :

Sources: Sea, whose market cap has gone from $200B+ to ~$28B since Oct. 2021, shuts some Latin American operations and cuts hundreds of gaming jobs in Shanghai

Singapore-based Sea Ltd's (SE.N) e-commerce arm Shopee will exit Argentina and shut local operations in Chile …

Sources: Foxconn Industrial Internet took a minority stake in Chinese state-backed chipmaker Tsinghua Unigroup for $788M during Unigroup's $9B bailout by China

A Shanghai-listed arm of Foxconn Technology Group acquired a stake in China's top chipmaker during its $9 billion bailout …

Sources: ByteDance shuts down its Shanghai game development studio, denting its games ambitions after failing to make a splash in the $44B Chinese gaming market

China's SMIC will spend $8.87B to build a plant on the outskirts of Shanghai and set up a $5.5B joint venture with Shanghai's government to oversee the project

Bloomberg :

China's SMIC will spend $8.87B to build a plant on the outskirts of Shanghai and set up a $5.5B joint venture with Shanghai's government to oversee the project

Bloomberg :

ByteDance says its Nuverse video game unit has acquired Shanghai-based gaming studio Moonton Technology, sources say for around $4B

(Reuters) - ByteDance said on Monday its video games unit Nuverse has agreed to acquire Shanghai-based gaming studio Moonton Technology, as it seeks to further expand into the video games business.

ByteDance acquires a 30% stake in Shanghai-based Hupu, an online sports forum, for ~$150M, as part of Hupu's pre-IPO round of funding

Yingzhi Yang / South China Morning Post :