Carlyle closes China deal
The private equity firm buys a 49% stake in Yangzhou Chengde Steel Tube for $80 million.
Carlyle announced on March 30 that it will invest $80 million for a 49% stake in ChinaÆs Yangzhou Chengde Steel Tube Company.
Yangzhou Chengde manufactures large-diameter seamless steel pipes. CarlyleÆs investment will help Yangzhou ChengdeÆs to grow its business both domestically and in markets beyond China. The investment is housed in Carlyle Asia Partners II, a $1.8 billion fund that makes control and strategic minority investments in Asia ex-Japan.
Yangzhou Chengde supplies pipes to industries including energy, power, heavy...
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