Warburg Pincus backs Chinese car park operator
Warburg Pincus has led a RMB1.5 billion ($227 million) round of funding for Sunsea Parking Industry Group, a Chinese car park management company. Furniture retailer Red Star Macalline - a Warburg Pincus portfolio company - also participated.
Sunsea already manages some of Red Star's parking bays and is said to have delivered a significant revenue increase during the operation period. As part of the deal, Hong Kong-listed Red Star has granted...
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