Chinese buyers circling more European assets

[dipsydoodle]

(Reuters) - Fresh signs of a mooted wave of Chinese money looking to buy European assets on the cheap emerged on Friday, with a major bank said to be in the running for parts of RBS (RBS.L) and an Italian yacht maker seen in the sights of Shangdong Heavy Industry.

Sources with knowledge of the matter said Bank of China (601988.SS) was among the lenders eyeing parts of Royal Bank of Scotland (RBS), as the process began to trim the investment banking arm of the government-owned UK bank.

And Chinese machinery maker Shandong Heavy is set to buy a controlling stake in debt-laden Italian yachtmaker Ferretti in a deal worth about $500 million (323.2 million pounds), sources close to the deal said.

Such deals would follow last month's $3.5 billion acquisition by China Three Gorges Corp of the Portuguese government's stake in utility EDP (EDP.LS), as Chinese corporates look to take advantage of Europe's financial woes.

http://uk.reuters.com/article/2012/01/06/uk-china-europe-investment-idUKTRE8050SI20120106

[xchrom]

1. That's the idea isn't it?

Put these assets up for sale because banks & other institutions are stressed?

The word 'China' might get people excited - but that is the plan.

[izquierdista]

2. Is that where the drain is?

Aren't they going to be surprised!