Abu Dhabi, Tech Giants Said to Vie for $3 Billion Watson Stake - Bloomberg:
Mubadala Investment Co., the Abu Dhabi sovereign fund, and Chinese internet giant Tencent Holdings Ltd. are weighing bids for part of Temasek Holdings Pte’s stake in global retailer A.S. Watson Group, people with knowledge of the matter said.
The Singapore state investment company is considering selling around a 10 percent stake in A.S. Watson for about $3 billion, according to the people, who asked not to be identified because the information is private. Tencent may team up with some investment funds for an offer for the stake in A.S. Watson, which is a unit of Hong Kong tycoon Victor Li’s CK Hutchison Holdings Ltd., the people said.
The holding has also drawn interest from Chinese tech billionaire Jack Ma’s Alibaba Group Holding Ltd., according to the people. Potential buyers are being invited to management presentations this month, one of the people said.
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