Carlyle Group to be biggest-ever foreign investor in China SOE

[UpInArms]

http://www.chinaknowledge.com/news-detail.aspx?id=2747

Apr. 18, 2006 (China Knowledge) – American private equity firm Carlyle Group has just received permission to acquire 85% of Xugong Construction Machinery Group Inc., China's largest construction machinery company by revenue.

Carlyle Group will pay US$375 million for the purchase, following the authorization from China’s Ministry of Commerce (MOFCOM), to make it the biggest-ever acquisition by a foreign investor of a controlling stake in a leading State-owned enterprise (SOE).

The deal was announced some six months ago but the MOFCOM and the National Development and Reform Commission (NDRC) have been stalling the decision-making since January.

...more...

[LSparkle]

1. The end of the nation-state

These greedy sons of bitches truly want to bring about private ownership of EVERYTHING -- inimpeded by pesky patriotism or nationalism.

[NEOBuckeye]

14. Nah. The Chinese will eventually outwit or consume even Carlyle.

They're learning from us, remember? The Chinese, unlike Americans, still value that sort of activity.

[Vinnie From Indy]

2. Carlyle Group, neocons and GOP enabling corporations

can't move production capabilities to China fast enough. They have no allegiance to any country and they have decided to abandon the American middle class. In a decade or so, it will be all over. American military power will become the "enforcement" arm of their operations.

[UpInArms]

3. Hiya Vinnie!

I think that the American military power is]/b] the "enforcement" arm of their operations.

[ShortnFiery]

4. Is Daddy Bush still up to his eyeballs with Carlyle?

[UpInArms]

6. Poppy supposedly dropped out after there was a huge stink - but

James A. Baker III (the bush family consigliere) still is there

http://bakerinstitute.org/Persons/H-Chair.htm

excerpt:

Mr. Baker is presently a senior partner in the law firm of Baker Botts and Senior Counselor to The Carlyle Group, a merchant banking firm in Washington, DC. He is Honorary Chairman of the James A. Baker III Institute for Public Policy at Rice University and serves on the board of the Howard Hughes Medical Institute. From 1997 to 2004, Mr. Baker served as the Personal Envoy of United Nations Secretary-General Kofi Annan to seek a political solution to the conflict over Western Sahara. In 2003, Mr. Baker was appointed Special Presidential Envoy for President George W. Bush on the issue of Iraqi debt.

[shance]

10. No. He just dropped being the head of Carlyle. He did not

in any way drop out as a share holder.

[cyberpj]

16. He's still in the group, so to speak. And they're taking in Tony Blair

as soon as he leavese as Brit PM.

[Ilsa]

5. And have you noticed that Kingdom Holding Company has been

running ads on either MSNBC or CNN? They own big stakes in a number of US companies.

[UpInArms]

7. I don't have cable or "dish" or any of that

have to settle for reading my news online without the "benefit" of all those commercials. :D

[aquart]

8. Poor China.

My sister says: "Sell it all. Every stick and stone. Then nationalize." She's a meanie.

[shance]

9. Is this why all the 9/11 Steel was immediately shipped to China?

No need to answer.

[Lefty48197]

11. They'll be bigger than Amway in China!

.

[lovuian]

12. May it rot in hell and China destroy it!!!

you can see Carlyle goes where the money goes...

[cosmicdot]

13. this is announced 2 days before Hu arrives

seemed just a few days ago the Chinese government was still blocking this 'deal' ...

article at Forbes online .. dated April 9, 2006 ...

China's halt to Carlyle-Xugong deal seen as 'step back' for capital markets
04.09.2006, 06:12 AM
http://www.forbes.com/home/feeds/afx/2006/04/09/afx2657764.html


I guess the 'no-bid contract' with Hutchison Whampoa Ltd. to scan cargo deal has gone through???
http://www.signonsandiego.com/news/nation/20060323-1400-portsecurity-bahamas.html


Wonder what part of America has Bu$h-Cheney sold off now to get Carlyle's deal approved?



Bu$h, Hu is here ... I don't know you tell me ...
no, Hu is who who is here ...

[UTUSN]

15. Whenever Carlyle is mentioned, remember a CARTER-ite founded it

David RUBENSTEIN, a low level flunky under CARTER. One of the co-founders. But CARTER is a virtual vipers' nest of vipers: Tweety, Pat CADDELL, and RUBENSTEIN. However, he (RUBENSTEIN) *did* fire Shrub from the cushy Board-of-directors job (looking for the link).

[stillcool]

19. Equal Opportunity....for those...

who can subvert international laws and foreign governments, in the name of profit.

[anotherdrew]

17. well this should be interesting...

I wonder if China plans on sending a message? Who wants to bet the business drys up and blows away inside a year or two?

[Canuck55]

18. China can't buy equipment fast enough...

Xugong doesn't even sell equipment outside China, Chinese companies buy every piece and then look out of country for deficient equipment.

One party i'm sure won't be impressed with this is a little company in Peoria, Illinois named Caterpillar who had a bid in for 51% control as of last summer.