L Capital Asia Acquires Restaurant Chain Crystal Jade (Asia)

Source: Asian Venture Capital Journal  |  Author(s): Tim Burroughs

L Capital Asia, the private equity fund sponsored by global luxury goods distributor LVMH Group, Groupe Arnault and YTL, has agreed to buy more than a 90 percent stake in Singapore-based restaurant group Crystal Jade for a reported US$100 million. Crystal Jade operates food and beverage outlets in 18 cities across nine countries in Asia, with plans to expand to Australia, India, the Middle East and the United States.