Li Ka-shing’s son among Asian tycoons seeking bargain deals

Li Ka-Shing and his son Victor Li. Cash-rich conglomerates like Li’s CK group are in a position to invest when others struggle as they are built to defend against the bad times

HONG KONG: Asian tycoons are looking to snap up assets pummelled by the deadly coronavirus at bargain prices, but they are also facing hurdles as more governments seek to deter foreign takeovers of local firms.

Over the past three months, top executives of companies based in mainland China, Hong Kong and Singapore have told investors that they are looking for acquisitions. They include Victor Li, who took over Hong Kong’s CK group from his father Li Ka-shing two years ago, and billionaire Guo Guangchang, the founder of the acquisitive Chinese conglomerate, Fosun Group.