Morgan Stanley‘s Asia private equity arm has invested $300 million in China’s Tianhe Chemicals Group, writes Reuters. The deal will help the company expand into US and European markets.
Reuters – Morgan Stanley’s (MS.N) Asia private equity arm has invested $300 million in China’s Tianhe Chemicals Group, the two companies said on Wednesday, a deal that will help the company expand into U.S. and European markets.
Morgan Stanley’s private equity arm would take a minority stake in Tianhe Chemicals, according to a person familiar with the matter.
As part of the deal, Homer Sun, the fund’s chief investment officer, will join Tianhe’s board.
Morgan Stanley Private Equity Asia has invested about $2.4 billion in Asia, primarily in highly structured minority investments and control buyouts.
Tianhe is the largest lubricant oil additive producer in China and a leading high-end specialty fluorochemical producer globally, the statement said.
(Reporting by Stephen Aldred; Editing by Chris Lewis)