CDH commits $97m to China's New Focus Auto
CDH Investments has invested $97.37 million in Hong Kong-listed auto after-sales service provider New Focus Auto (NFA) through a subscription to ordinary shares and convertible bonds. Upon full conversion it will own 63.2% of the company.
According to a regulatory filing, CDH agreed to subscribe 1.26 billion in new shares in a worth of $48.69 million of at HK$0.30 apiece. The PE firm has also subscribed to five-year zero-coupon convertible...
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