宏達礦業將3億美元收購英國遊戲開發商

A lossmaking Chinese miner is snapping up a British computer games developer in a $300m deal that encapsulates the spirit of China’s frenzied, and often incongruous, debt-fuelled shopping spree.

中國一家虧損礦商將要買下英國一家電腦遊戲開發商，這筆3億美元的交易堪稱中國瘋狂而往往不協調的、債務助燃的收購熱潮的典型代表。

The deal, which will see a fantasy games developer bed down with an iron ore miner, comes as insurer Anbang gatecrashes a $13bn deal for Starwood Hotels and Resorts; itself barely 24 hours after sewing up a $6.5bn bid for Strategic Hotels & Resorts.

該交易將意味着一家奇幻遊戲開發商與一家鐵礦石生產商聯姻。交易宣佈之際，中國保險商安邦(Anbang)剛向喜達屋酒店及度假村國際集團(Starwood Hotels and Resorts)發出130億美元收購要約，而在這條消息傳出的24小時前，安邦剛剛達成65億美元收購Strategic Hotels & Resorts的交易。

A total $102bn of outbound dealmaking has been announced from China so far this year, according to Dealogic, already almost as much as the record $106bn spent in 2015.

Dealogic的數據顯示，今年以來中國已宣佈總計1020億美元的境外收購交易，逼近2015年全年1060億美元的紀錄。

Shandong Hongda, the iron ore miner, may be putting down less cash, but the $300m price tag is six times its forecast net loss for last year.

身爲鐵礦石生產商的山東宏達礦業股份有限公司(Shandong Hongda)也許砸下的資金略少一些，但3億美元的價碼已是其去年預測淨虧損的6倍。

After beginning life as a village-owned iron ore mine in the early 1990s, it is bolting on Jagex, UK developer of online role-playing game RuneScape.

上世紀90年代初作爲村辦鐵礦誕生的宏達，將要收購在線角色扮演遊戲《江湖》(RuneScape)的英國開發商Jagex。

Incongruous diversification is also part of the Zeitgeist.

不協調的業務多元化也是“時代精神”的一部分。

Old industry, such as steel mills and miners, is weighed down by overcapacity and debts and is turning to new areas of business — from pig farming to property to finance.

受到產能過剩和債務拖累的老工業企業，如鍊鋼廠和礦商，正在轉向新的業務領域，從養豬、房地產，到金融。

For two decades investment surged into China, initially capitalising on cheap labour, and then in an effort to tap the flourishing Chinese market that was growing at near double-digit rates annually.

在長達20年的時間裏，大量投資涌入中國，最初是爲了利用廉價勞動力，後來是爲了挖掘蓬勃發展的中國市場，當時中國經濟以年均接近兩位數的速度增長。

But China’s slowing growth and the mounting pressure of debts accumulated during the boom has turned the tide, and Chinese corporations are seeking the lower but relatively more stable returns of investments abroad.

但是，中國經濟增長放緩、繁榮時期積累的債務所帶來的越來越大的壓力已經使這股潮流發生了逆轉，中國企業正紛紛在境外物色較低、但相對比較穩定的投資回報。

Just as RuneScape players battle monsters in the realm of Gielinor, Shandong Hongda has found itself at the mercy of forces beyond its control.

正如《江湖》玩家在Gielinor奇幻世界對戰怪獸，山東宏達也受到自己無法控制的力量的擺佈。

Flush with cash during the commodities boom, Chinese miners expanded aggressively, then saw margins shrink as a slowdown in growth pummelled ore prices.

在大宗商品繁榮時期賺得盆滿鉢滿的中國礦商，曾經大舉擴張，結果卻看到經濟增長放緩重創礦石價格，導致它們的利潤大幅下降。