Sina taps CITIC, FountainVest, Sequoia for $180 million
Sequoia Capital, FountainVest Partners and CITIC Capital Holdings have reportedly agreed to finance leading PRC web portal Sina in a $180 million management buy-in to reinforce the positions of CEO Charles Chao and other senior executives.
Chao and his team will contribute $50 million, with the outside investors ostensibly contributing roughly equal tranches of the remaining $130 million. Sina will issue new shares to the joint investment...
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