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Viva China acquires Testoni footwear brand

Viva China, a venture company controlled by Chinese Olympic gold medalist Li Ning and the largest shareholder of his namesake sportswear brand, is to acquire the loss-making Italian shoemaker Amedeo Testoni for HK$81.57 million (US$10.48 million).

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Plant based tanning agent DesertSpring launched

A joint venture between Netherlands-based leather chemicals manufacturer Smit & Zoon, venture building studio Enviu, and France-based SN Botanicals has resulted in a plant-based innovation for environmentally friendly tanning for leather.

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Brose and Volkswagen sign joint venture agreement

Automotive supplier Brose has signed a joint venture agreement with Germany headquartered automotive Group Volkswagen to develop and manufacture complete seats, seat structures and components along with solutions for the vehicle interior. The transaction is still pending antitrust law approvals and other standard closing conditions.

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Adient to end joint venture with Yanfeng in China

The U.S. automotive seating company has announced that as part of its “strategic transformation in China”, it has entered into a definitive agreement with joint venture partner Yanfeng Automotive Trim Systems (YF) to end Yanfeng Adient Seating (YFAS) joint venture in China.

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Concerns over BMW’s Chinese partner increasing debts

Brilliance Auto Group Holdings, the parent company of BMW's joint venture partner in China, is reportedly facing worsening investor anxiety, as BMW has concerns about the state-owned company's capacity to erase its debt load as the Covid-19 pandemic weighs on profits.

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