Newsrun

IPG Mediabrands, the holding firm of the Interpublic Group, has acquired Interactive Avenues. Deal size unknown. (Deal Curry)

Germany-headquartered Osram GmbH, a wholly owned subsidiary of Siemens, announced it will be selling its plant in Shaoxing, Zhejiang province to Super Trend Lightning Ltd. (Shanghai Business Review)

Industrial and Commercial Bank of China (ICBC), the world’s biggest bank by market value, aims to become the clearing bank for offshore yuan business in London, the bank’s President Yang Kaisheng said on Wednesday. (Shanghai Business Review)

MGPA, a private equity real estate investment advisory company managing assets in Europe and Asia, said on Thursday it has acquired a newly completed Grade A office building, j-Tower, in Shanghai for 263.5 million yuan ($41.8 million). (Shanghai Business Review)