LEHMAN BROTHERS BUY INTO CHAOWEI POWER
AsiaInfo Services, April, 2008
AsiaInfo Services 04-02-2008 Lehman Brothers Buy into Chaowei Power CHANGXING, Apr 02, 2008 (SinoCast via COMTEX) -- Private equity firm Lehman Brothers and Chinese investment company Chang'an Capital are said to have jointly invested a total of USD 30.7 million in Zhejiang Chaowei Power Co., Ltd. As the lead investor, Lehman Brothers is reported to invest more than USD 20 million in the Zhejiang-based company.
Zhejiang Chaowei Power, founded in 1998, is mainly engaged in the manufacture and sale of accumulator batteries for electrical vehicles and locomotives. Currently, it ranks second in China with an annual production capacity of 13 million accumulators. Zhejiang Chaowei Power prefers to local private equity firms rather than foreign investment companies, said...
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