Carlyle, Fountainvest exit $1.9 bln bid for Shanda Games – Reuters

Carlyle Group and Fountainvest Partners have pulled out of a consortium backing a $1.9 billion bid to buy U.S. listed online games developer Shanda Games, writes Reuters. China online game developer Perfect World Co Ltd and China-focused private equity firm Primavera Capital have also exited the consortium.

Accenture adds FountainVest Partners CEO to board

Global management consulting firm Accenture has added Paula A. Price and Frank K. Tang to its board of directors. The appointments became effective May 9. Price is the former executive vice president and chief financial officer of Ahold USA, while Tang is CEO and managing partner of FountainVest Partners, a China-focused private equity fund.

LJ International Gets Take Private Bid from CEO, FountainVest

LJ International said Monday that it has received a non-binding proposal letter from Chairman and CEO Yu Chuan Yih to buy all the outstanding ordinary shares of the company not currently owned by Yih for $2 a share. FountainVest Partners is joining Yih, who owns about 11% of outstanding shares, in the bid. Hong Kong-based […]

Enzo Inks Deal with FountainVest, Spring Capital Asia

Publicly traded LJ International Inc. will sell a stake in its subsidiary, Enzo Jewelry, to private equity firms FountainVest Partners and Spring Capital Asia. Under the terms of the agreement, the private equity firms will make an initial investment of $41.38 million, including an investment of $31.40 million in newly issued Enzo shares and an acquisition of existing shares of Enzo from LJ International in the amount of $9.98 million. Following the deal, the firms will own 28.27% of Enzo.

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