PE and Chinese outbound investment
Who writes CITIC Private Equity's scripts? The day after the conclusion of the World Economic Forum’s annual meeting, where China and its role in the global economy was inevitably an area of focus, it was announced that Sany Heavy Industry would purchase Germany’s Putzmeister for EUR360 million ($475.9 million). CITIC PE will take a minority stake in the pump manufacturer.
The transaction is significant on several levels, not least its timing, the nature of the assets, and the role played by private equity. Days earlier, John Zhao, CEO of Hony Capital, used his Davos platform...
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