Evergrande raises stakes in fight for China Vanke
恒大加入宝万之争
广州地产翻译公司：中国第二大地产集团加入对万科角逐，目前持有万科6.82%股份，但目前不清楚恒大在宝万之争中将支持何方。
China’s second-largest property group has entered the battle for China Vanke, buying a stake that could sway the fate of the country’s top developer.
中国第二大地产集团加入对万科(Vanke)的角逐，买入了可能左右这家中国最大房地产开发商命运的股份。广州地产翻译公司。
After increasing its holdings earlier this month, China Evergrande Group yesterday became the third-largest shareholder in Vanke , announcing that it had bought Rmb5.46bn ($823m) worth of shares in the company.
在本月早些时候增持股份之后，中国恒大集团(China Evergrande Group)昨天成为万科第三大股东，宣布已买下该公司价值54.6亿元人民币（合8.23亿美元）的股份。
The purchase, which pushed Evergrande’s stake from 4.68 per cent to 6.82 per cent and above the threshold required to nominate a board member, marks a turning point in the months-long battle that has pitted Wang Shi, Vanke chairman, against insurance group Baoneng.
这一收购将恒大所持股份从4.68%提升至6.82%，超过了提名董事会成员的门槛，标志着这轮持续数月的大战进入一个转折点。这轮大战令万科董事长王石陷入与保险集团宝能(Baoneng)的冲突。广州地产翻译公司。
Baoneng owns roughly a quarter of Vanke, making it the largest shareholder, while state-run conglomerate China Resources is the second biggest.
宝能持有万科大约四分之一股份，这让它成为万科最大股东，而国有集团华润(China Resources) 是第二大股东。
Evergrande’s arrival as a serious participant in China’s first big hostile takeover gave the conglomerate the power to tilt the tussle for control towards either Baoneng or Vanke’s management, analysts said. “We think Evergrande will wait and see who comes out on top, then they will join them, or join the group that gives them the most interest,” David Yang, a Shanghai-based analyst at UOB Kay Hian, said.
分析人士表示，恒大以重大参与者的身份介入中国首宗大规模敌意收购，令其获得了决定这场控制权之争倒向宝能还是万科管理层的威力。大华继显(UOB Kay Hian)驻上海分析师David Yang表示：“我们认为，恒大会观望谁占了上风再加入他们，或者加入会给他们带来最大利益的集团。”
Vanke has said it plans to reappoint its board next March, at which point Evergrande, with its near 7 per cent stake, can nominate a board member.
万科已表示计划在明年3月重新任命董事会成员，届时恒大凭借近7%的股份，将能够提名一位董事会成员。广州地产翻译公司。
Evergrande would probably side with whichever party helped it gain the 50 per cent shareholder approval required to appoint its nominee, Mr Yang said.
Yang表示，或许哪一方能帮助恒大获得任命其被提名人所需的50%股东批准，恒大就会站在哪一方。
Vanke and China Resources both have three board members, while Baoneng has none.
万科和华润在万科董事会均有三名成员，而宝能没有董事会成员。
One analyst said Evergrande wanted Vanke’s co-operation on projects in Shenzhen, but that Evergrande would stay neutral on the dispute.
一名分析师表示，恒大希望万科在深圳的项目上与之合作，但恒大将在宝万之争中保持中立。广州地产翻译公司。
Vanke’s Shenzhen-listed shares rose 10 per cent to Rmb27.57 on yesterday’s news, hitting a daily trading limit. Its Hong Kong shares closed up 2.1 per cent to HK$5.33. Evergrande in Hong Kong climbed 1 per cent to close at HK$5.93.
在昨日的新闻发布后，万科在深市上市的股票上涨10%，至每股27.57元人民币，触及涨停。其香港上市的H股收盘上涨2.1%，至每股5.33港元。恒大的H股上涨1%，收于每股5.93港元。
Vanke declined to comment. Evergrande could not be reached for comment.
万科拒绝置评。记者无法联系到恒大请其置评。
The case has become China’s most-watched corporate fight, with accusations from both sides spilling into the public domain, defying convention in a society where skirmishes between the powerful occur behind closed doors.
宝万之争已成为中国最受关注的企业大战，双方的指责蔓延到公共领域，打破了权贵间的冲突关起门来进行的中国社会规矩。广州地产翻译公司。
Baoneng began buying shares in Vanke in December, increasing its stake to 24 per cent. Another insurance group, Anbang, bought a 7 per cent stake until Vanke shares were frozen.
宝能在去年12月开始买入万科的股票，将持股比例提高到24%。另一家保险集团安邦(Anbang)在万科股票停牌前购得7%股份。
During the freeze, Vanke attempted to enlist Shenzhen Metro Group, its largest shareholder, but that was shot down by Baoneng and China Resources.
在万科股票停牌期间，万科试图寻求深圳地铁集团(Shenzhen Metro Group)的帮助，让深圳地铁成为其最大股东，但此举被宝能和华润否决。广州地产翻译公司。
Baoneng continued to buy shares when the stock resumed trading in July.
在万科股票7月复牌后，宝能继续增持万科股票。
Vanke’s Mr Wang has accused Yao Zhenhua, Baoneng chairman, of seeking to derail its culture and called on regulators to crack down on the use of risky insurance products to fuel buyouts. Regulators followed with a rebuke of that model, showing support for Mr Wang. Vanke fired back with claims that Mr Wang paid himself too much while wasting time on sabbaticals abroad.
万科的王石指责宝能董事长姚振华寻求破坏万科企业文化，并呼吁监管机构打击使用高风险的保险产品为收购提供资金的行为。监管机构随后对这种模式进行了批评，表露出对王石的支持。万科方面还对有关王石在海外休长假浪费时间、同时对自己支付过高薪酬的说法予以了反击。
