Carlyle Keeps Moving Down for Xugong Group

The Carlyle Group reportedly has agreed to take a reduced stake in Xugong Group Construction Machinery, in order to help appease Chinese regulators. Carlyle originally agreed to acquire an 85% stake for $375 million, and later cut down its prospective ownership to 50 percent. But today’s Wall Street Journal reports that it has now offered to drop down to minority shareholder status with 45 percent.< ?xml:namespace prefix = o />