China on the Hunt for Distressed Assets
According to this NY Post article, China plans a massive North America tour with over 400 executives to research and view distressed assets. Noteworthy that they plan to spend almost as much time in Canada as the US. Hmm....
- Hoping to take advantage of cheap prices on struggling American businesses, a group of 400 executives from state-owned and private Chinese companies will be visiting the US next month on the hunt for distressed assets.
- China's Ministry of Commerce is behind the tour, and is planning visits to New York, Washington, Chicago and Salt Lake City. The trip also includes stops in Toronto, Vancouver and Montreal.