SAN FRANCISCO/NEW YORK - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. | Video
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Warburg Pincus enters into second China deal in a month
HONG KONG |
HONG KONG (Reuters) - Global buyout fund Warburg Pincus WP.UL entered into its second China deal in a month after investing $55 million in a Chinese maternity, infant and kidswear retailer, in a sign of rising private equity investment activity in China.
Warburg in early July paid $200 million for a minority stake in privately-owned China Auto Rental Holdings Inc, after the car rentals company pulled its U.S. IPO in April due to market turmoil.
Warburg has invested in China Kidswant Investment Holdings Co Ltd for an undisclosed stake, Kidswant, as the retailer is known, said in an emailed statement on Tuesday.
The investment will be used for Nanjing-headquartered Kidswant's plans to open more stores and expand geographical coverage.
Kidswant targets medium to high-income households with infants and children up to 14 years old, and has nine stores in the Yangtze River Delta region and Chongqing. The company also provides pre-school and English teaching for children.
New York-headquartered Warburg made its first investment in China in 1994, and since then, has invested over $3 billion in companies including 7 Days Inn (SVN.N), Guangzhou R&F Properties (2777.HK) and Harbin Pharmaceutical 650664.SS.
(Reporting by Stephen Aldred; Editing by Ryan Woo)
- Tweet this
- Share this
- Digg this