CITIC, CDH exit early days China SOE buyout
Two facts worth noting about Chinese private equity: first, there is almost always a willing strategic buyer for a well positioned domestic business; second, the vast majority of PE investments are for minority stakes so if the entrepreneur has set his heart on an IPO, the trade sale option is unlikely to be realized, no matter how many prospective acquirers register an interest.
Nanjing Aotecar, a Chinese manufacturer of compressors used in car air-conditioning systems, made two attempts at a Hong Kong public listing - in late 2010 and early 2011, managed DBS and Goldman Sachs,...
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