carlyle-closes-china-deal

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 industrial, chemical and construction with customers both in China and across the world. It was spun off from Jiangsu Chengde Steel Tube, a producer of small-diameter seamless steel tubes since 1988. Yangzhou Chengde started producing...
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