TPG and Legend Holdings buy stake in Chinese retailer Wumart

Private equity firm Texas Pacific Group and China's Legend Holdings have agreed to invest $213 million for an 11% stake in Hong Kong-listed Wumart Stores.

Private equity firm Texas Pacific Group and China's Legend Holdings will invest $213 million for an 11% stake in Hong Kong-listed Chinese retail chain Wumart Stores.

Both investors are buying a combination of H-shares and domestic shares. TPG will route the investment through TPG Asia. Legend Holdings is a Chinese investment company which owns a controlling interest in Chinese computer firm Lenovo. Legend is routing its investment through investment companies Hony Capital and Fit Sports.

Wumart is raising HK$1.1...

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