CITIC, CDH Generate 4x Return Through China Auto Parts Exit (Asia)
Source: AVCJ | Author: Tim Burroughs
Chinese alternative investment firms CITIC Capital Partners and CDH Investments have sold their stakes in Nanjing Aotecar, a Chinese automotive components manufacturer, to private investment firm Tianyou Investment. CITIC and CDH originally invested in Aotecar, a former state-owned enterprise, in 2007. While financial details of the transaction were not disclosed, CITIC reportedly generated a return of 4x on its investment of US$22 million.