HK court upholds CVC asset freeze over South Beauty founder
A Hong Kong court has supported a move by CVC Capital Partners to freeze the assets of Lan Zhang, founder of Chinese restaurant chain South Beauty, which was bought by the private equity firm last year.
CVC is said to have paid around $300 million for a majority stake in South Beauty, with Zhang remaining a shareholder in the business and continuing to participate in strategic decisions. However, revenue...
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