goldman-edges-nearer-to-closing-china-shineway-deal

Goldman edges nearer to closing China Shineway deal

The deal still needs a green light from the CSRC, but could competition issues thwart the approval process?
Some favourable excitement has been generated in the private equity industry in China by the reportedly imminent acquisition of 100% of Henan-based meat processor Shuanghui Group, also known as the Shineway Group, by Rotary Vortex, an investment vehicle. This vehicle is owned 51% by Goldman Sachs and 49% by a Chinese private equity company CDH Investments.

This year, many private equity deals have been blocked in China, including the attempted acquisition by Carlyle of an 85% stake in Xugong Group, a major construction machinery company, by concerns either that the assets are too cheap or that they have strategic significance. The news that Goldman may have pulled off a coup is thus likely to give...
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