Corporate Bits | CEM participates in Guangxi power industry summit

Companhia de Electricidade de Macau (CEM) participated in the “6th Guangdong, Hong Kong and Macau Power Industry Summit” in Nanning, Guangxi, last week between May 11 and 13. The summit was themed on “Reform, Innovation, Cooperation and Win-win Result,” according to a CEM statement.
The meeting, which was originally proposed in 2011 by China Southern Power Grid Corporation, aims to strengthen the exchange of information, knowledge and experience among power companies in Mainland China, Hong Kong and Macau, as well as seek opportunities for cooperation.
Xu Kaicheng, Chairman of the Board of Directors of CEM, said during the summit that all efforts of the participants should tie in with the policy of “One Country, Two Systems” and the cooperation of the power enterprises in the three regions. Each party can also tap into its own regional advantage and strengths to complement their partners in the region, Xu said.

ikea said to plan usd1b sale of european real estate

Ikea, the world’s biggest furniture retailer, plans to sell about 900 million euros (USD1 billion) of European retail parks surrounding its stores, according to people with knowledge of the matter.
Ikea has hired Cushman & Wakefield Inc. to help market the assets. Josefin Thorell, a spokeswoman for Ikea, confirmed that the company plans to sell 27 European retail parks. She declined to comment on the value or the adviser. A spokesman for Cushman & Wakefield declined to comment.
Buyers are investing record amounts in European shops to benefit from the region’s growing economy and rising property values. Shops valued at 69 billion euros changed hands last year, 31 percent more than in 2014, according to data compiled by CBRE Group Inc.
Twelve of the retail parks are in Germany, with the rest scattered across Poland, Sweden, France, Finland, Switzerland and the Czech Republic, Thorell said. Ikea will have 25 parks left in Europe after the sale is complete, she said.
The plan is tied to Ikea’s strategy of only keeping properties that allow it to collaborate with nearby tenants and create “inspiring and family-friendly meeting places,” Thorell said.
“We’re selling the Ikea parks that don’t fit that vision,” she said. “We’re not selling everything.”