監管機構或阻安邦最新兩筆海外收購交易
Anbang Insurance’s $20bn hotel-buying spree has been thrown into doubt by reports that Chinese regulators could block its bids for two big US chains.
安邦保險(Anbang Insurance)的200億美元酒店收購狂潮已產生變數，原因是有報道稱，中國監管機構可能阻止該公司收購兩家美國大型連鎖酒店。
Caixin, a respected Chinese financial magazine, reported yesterday that the China Insurance Regulatory Commission could invoke a rule that restricts domestic insurance companies from investing more than 15 per cent of their total assets abroad.
受尊敬的中國財經媒體《財新》週刊昨日報道，中國保監會(CIRC)可能會援引一條“保險資金境外投資不超過總資產15%”的規則。
The Anbang deals had a “small probability of completion”, one unnamed authority told the Chinese magazine.
一位未具名的權威人士對這家中國雜誌表示，安邦這兩筆交易“完成的可能性非常小”。
Anbang declined to comment. But people close to the insurer played down the report. One said that nothing had materially changed for the Chinese group, which plans to press ahead with last week’s $6.5bn deal for Strategic Hotels & Resorts. Anbang is also evaluating whether to raise its $13.2bn bid for Starwood Hotels & Resorts.
安邦拒絕對此置評。但接近這家保險商的人士淡化了上述報道。其中一人表示，對於這家中資集團而言，情況並未發生實質性變化。安邦計劃推進上週以65億美元收購Strategic Hotels & Resorts的交易。安邦也在評估是否提高對喜達屋酒店及度假村國際集團(Starwood Hotels & Resorts)的132億美元競購報價。
Another person close to the dealmaking said that Anbang believed that the CIRC would become involved only if the hotel-chain purchases were funded with insurance premiums. If the chains were paid for another way, the deals would not require the regulator’s approval.
另一名接近該交易的人士表示，安邦認爲，只有當收購連鎖酒店的資金來自保費時，中國保監會纔會介入。如果收購資金來自其他渠道，則交易將無需獲得監管批准。
Anbang has yet to say how either deal would be financed and is keeping the regulator informed, the person said.
此人表示，安邦尚未說明這兩筆交易中的任何一筆的資金將來自何處，目前正向中國保監會彙報情況。
Anbang had sought to gatecrash Marriott International’s agreement to purchase Starwood but its offer was trumped by a revised bid from Marriott on Monday. Marriott’s offer, valuing Starwood at $13.6bn, was accepted by the target company.
安邦曾尋求在最後時刻攪局萬豪國際(Marriott International)收購喜達屋的交易，但在週一，萬豪國際修改後的報價高於安邦的報價。萬豪國際的報價對喜達屋的估值爲136億美元，並已被收購對象接受。
Senior management at the Chinese group is convinced that Starwood has left the “door open” to a fresh bid, according to people close to the matter.
知情人士表示，安邦集團的高級管理層相信，喜達屋也爲更新的報價“留出了空間”。
However, the Caixin report raises the possibility that the CIRC could prevent another counterbid by Anbang.
然而，《財新》週刊的報道加大了中國保監會阻止安邦提出還盤的可能性。
Starwood’s executives are keen to close the deal with Marriott as soon as possible, people familiar with the negotiation process said.
瞭解談判進程的人士表示，喜達屋的高管希望儘快完成與萬豪國際之間的交易。
Anbang’s effort to buy up assets overseas is part of an unprecedented wave of outbound investment from China. Overseas spending by Chinese buyers this year has already reached $102bn, according to Dealogic, just $4bn shy of last year’s total of $106bn.
安邦大舉收購海外資產，是中國企業一波史無前例的境外投資大潮的一部分。Dealogic的數據顯示，今年迄今爲止中國企業在海外的支出已達到1020億美元，僅比去年全年的總額低40億美元。
