Carlyle takes control of China lubricant maker

The private equity firm has teamed up with Chinese entrepreneur Huo Zhenxiang to buy 75% of auto grease supplier Tongyi Lubricants from Shell.

Carlyle takes control of China lubricant maker

Carlyle has teamed up with Chinese entrepreneur Huo Zhenxiang to buy 75% of Tongyi Lubricants from Royal Dutch Shell, the companies said in a joint statement on Friday.

After the deal completes Carlyle will have a controlling stake in the lubricants maker which supplies car dealerships according to a spokeswoman at the private equity firm.  

The US private equity firm is looking to invest in companies that sell to the...

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