olympus-invests-in-chinese-aluminium-producer

Olympus invests in Chinese aluminium producer

The mid-market private equity firm spends $100 million on a stake in China's Zhongwang International Group.
August 20, 2008

Private equity firm Olympus Capital will invest $100 million for an undisclosed minority stake in Zhongwang International Group.

Liaoning Zhongwang Group, a subsidiary of Zhongwang International Group, is an aluminium manufacturer as well as a supplier of light transportation material in China. It supplies to the railway, shipping and aviation industries. With its investment Olympus Capital has secured the right to appoint one director to the nine-member strong board of China Zhongwang Holdings. Assuming Olympus has negotiated board representation in proportion to its stake, Olympus will have acquired at least 10% equity interest in Zhongwang.

Zhongwang started business in 1993 and has grown to become...

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