The Wall Street Journal 19 August 2013
SHANGHAI–Chinese private equity firm Citic Capital Holdings Ltd. is buying a minority stake in S.F. Express (Group) Co. Ltd., as it seeks to help a domestic delivery firm expand in a lucrative market in China that foreign companies have limited access to.
The investment firm is part of a consortium, which includes state-owned conglomerate China Merchants Group, that is buying no more than 25% of the company, according to a Monday press release from Citic.
Citic is investing through its first yuan-denominated fund, which so far has raised three billion yuan (US$490 million).
The press release didn’t disclose the value of the transaction.