Business news with words bain+billion+china. 14 news.

BAIN Capital Partners' US$2.2 billion acquisition of 3Com Corp is expected to be finalized by the end of the first quarter, though the deal is being investigated by the US regulator because of a Chinese firm's involvement, the US-based private investment firm said yesterday. Bain Capital announced in September its plan to acquire the US-based telecom equipment firm 3Com. As part of the transaction, Huawei plans to acquire a minority interest in 3Com. The US regulator intervened later citing "national security" because 3Com's clients include the Pentagon and other US bureaus. "It is just a deal between two US companies and many steps can be taken to avoid a 'China connection' to the 3Com's sensitive clients," said Jing Huang, Bain Capital's managing director, who was attending the China Venture Capital Annual Forum 2007 in Shanghai. Huawei will acquire the 3Com's stake, 16 percent as reported, through Huawei Tech Investment, a Hong Kong-based subsidiary and it

After a bumper year, the luxury-goods industry is heading for uncertain times MORE than any other industry, the luxury-goods business needs people to feel good about spending money. So at a recent conference in Moscow, Bernard Arnault, the head of Moet Hennessy Louis Vuitton (LVMH), the world's biggest luxury-goods group, went to great lengths to dismiss investors' fears about the impact on the industry of America's credit crisis, a possible recession and the weak dollar. Indeed, Mr Arnault said he expects the industry's sales almost to double in the next five years, thanks to strong demand from emerging markets and the creation of new wealth across the globe. After a depressing period at the beginning of the decade when the terrorist attacks in America, the outbreak of SARS and the war in Iraq reduced international travel and people's appetite for frivolous things, the industry has had three excellent years. According to Bain, a consultancy, sales of luxury goods grew by 9% in 2006 to EURO159 billion ($200 billion) and will reach about EURO170 billion this year, which would be double the 1996 figure. Europe remains the biggest market, with about 40% of sales, though the strongest growth is in China, Russia, the Middle East and some Latin American countries. ...

WASHINGTON - 3Com Corp. shareholders have filed a class-action lawsuit to prevent a $2.2 billion buyout by private equity firm Bain Capital Partners and China's Huawei Technologies, the company disclosed Wednesday.

3COM Corp, the money-losing computer networking equipment maker that agreed to be taken over by Bain Capital LLC, forecast yesterday it will be profitable in about four years, helped by demand in China and India. The company will earn a profit "around" 2011 as sales rise about 60 percent from last year to US$2 billion, said Jay Zager, chief financial officer of the Massachusetts-based company. 3Com plans to target emerging markets such as India, the world's fastest-growing major telecommunications market, and the Middle East, Zager said. The strategy may build on the success of 3Com's former venture in China with Huawei Technologies Inc, Bain's partner in the US$2.2 billion bid to buy the United States company. "The trick is to offer more products," Zager said. "We're going to focus on emerging markets like India and the Middle East, places where there's going to be greater annual growth." 3Com, which competes against leader Cisco in the US$16-billion global market for network switches, will post an operating profit in the year ending in May 2008, Zager said, declining to specify a figure. The average of four analyst estimates compiled by Bloomberg News is for a US$50.7 million profit. The purchase will lead to some job cuts at the research and development, supply-chain and information technology units of the company, which employs 6,000 people, Zager said, without providing a figure. Shenzhen-based Huawei will hold a 16.5 percent stake as part of the acquisition, scheduled to be completed in the first quarter of 2008. Bain said last week Huawei's involvement won't be a threat to US national security and the company has voluntarily submitted the acquisition agreement for a review by the US Committee on Foreign Investment.

Bain Capital and Huawei Technologies, China’s largest maker of equipment for telecommunications networks, hired five banks to arrange $1.2 billion of loans for their proposed buyout of 3Com, Bloomberg News reported. Citigroup, UBS, HSBC, ABN Amro and Bank of China (Hong Kong) will arrange $800 million of five-year leveraged loans, $750 million of which will be [...]

3Com Corp., the money-losing maker of computer-networking equipment, agreed to a $2.2 billion takeover by Bain Capital LLC and a former joint-venture partner in a move that will further shift 3Com's focus to China. Bain offered $5.30 a share, 44...

BOSTON - Network equipment maker 3Com is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China.

Network equipment maker 3Com Corp. is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China.

3Com agreed to sell itself to Bain Capital and China's Huawei Technologies for $2.2 billion. Bain will take a stake of over 80%.

BOSTON - Network equipment maker 3Com Corp. is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China.

NEW YORK (Reuters) - Network equipment maker 3Com Corp said on Friday it will be bought by private equity firm Bain Capital Partners for $2.2 billion in a deal that will also give China's Huawei a minority stake.

Network equipment maker 3Com Corp. is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China.

3Com plans to sell itself to Bain Capital and Huawei Technologies of China for more than $2 billion.

Reuters - Communications equipment maker 3Com Corp has struck a deal to be bought by China's Huawei Technologies and private equity firm Bain Capital for more than $2 billion, The Wall Street Journal reported on Friday.