HONG KONG, July 22 Goldman Sachs and
private equity firm Warburg Pincus are among the investors
nearing a deal to buy an up to 20 percent stake in China Huarong
Asset Management Ltd for about $2 billion, people familiar with
the matter told Reuters.
Other companies preparing to invest in China's biggest bad
debt manager include Malaysian state investor Khazanah Nasional
Bhd, China state-backed CITIC Group, China International Capital
Corp, conglomerate Fosun Group and China state-backed COFCO
Corp, the people added.
The seven investors are likely to sign an agreement over the
next month, the people said.
China Huarong had about $65.7 billion under management at
the end 2013, making it the nation's biggest bad debt manager
ahead of China Cinda Asset Management Co Ltd, which
raised $2.8 billion in an Hong Kong initial public offering last
CICC, Fosun, Goldman Sachs and Warburg Pincus declined to
comment. COFCO, CITIC and Khazanah did not immediately respond
to calls and emails seeking comments. The sources declined to be
identified as the information is not public.
A person answering the telephone at Huarong's Beijing
headquarters said nobody at the company could comment on the
(Reporting by Stephen Aldred and Lawrence White; Additional
reporting by Elzio Barreto, Saikat Chatterjee and Yantoultra
Ngui; Editing by Denny Thomas)