Hony Capital Acquires 10 Percent Stake in Chinese Property Developer (Asia)

Source: AVCJ  |  Author: Winnie Liu

Chinese private equity firm Hony Capital has purchased a 10 percent stake in Chinese property developer Chengtou Holding. Hony purchased 299 million shares in Chengtou, which is listed on the Shanghai Stock Exchange, for RMB1.8 billion (approximately US$290 million). In addition to property development, Chengtou also has an environmental protection business that converts municipal waste to energy.