Private equity firm Olympus Capital Holdings Asia announced yesterday it has invested $47.5 million in China-focused hydropower company Zhaoheng Hydropower.
The Zhaoheng Group was founded in 1994 by Xu Guo Sheng who had previously held senior positions with Chinese state-owned enterprises. The capital from Olympus is part of a larger equity-raising by Zhaoheng totalling $57.5 million. The balance $10 million has been contributed by the parent company, Zhaoheng International, which was also founded in 1994. Zhaoheng International is a Shenzhen-based company focusing on hydropower electricity generation, the development and trading of specialty steel and minemineral products, and digital TV network technologies.
Olympus did not...
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