Italy is China’s top takeover destination: Bloomberg
Italy’s become China’s top destination for takeovers, according to a Bloomberg. This follows a story in Asia Unhedged that the weak euro is causing Chinese investment in Europe to soar.
Surging Chinese investment activity in Europe is making players like Britain eager to climb aboard the China-backed Asian Infrastructure Investment Bank (AIIB).
China’s purchases represented 27% of foreign investment in Italy in 2014, according to KPMG LLP. With ChemChina’s planned purchase of the iconic tiremaker Pirelli SpA, acquisitions by the country in Italy total almost $14 billion in the last 12 months, according to data compiled by Bloomberg. That ranks Italy ahead of the U.S and the U.K.