Warburg Pincus invests in Titan Petrochemicals
The private equity firm invests $175 million in a two-part deal that gives it exposure to China's logistics sector.
Warburg Pincus is to invest $175 million in Titan Petrochemicals Group, a fully integrated, downstream, oil logistics company listed in Hong Kong. The company provides transportation, storage, supply and distribution services on a single platform and operates in China, Hong Kong, Singapore and Malaysia.
The Warburg Pincus investment was announced on Wednesday and is being made in two parts. First, $75 million will be used to buy equity shares and convertible preferred shares in the Hong Kong-listed entity Titan Petrochemicals....
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