Global Times | October 17, 2011 23:33
By Chen Yang
By Chen Yang
US private equity firm Carlyle Group announced Monday it has joined with Ma Yun-backed Yunfeng Capital to close the acquisition of an 80 percent stake in Hong Kong-based cinema digital server provider Global Digital Creations Technology (GDC Tech), a move analysts say is intended to cash in on the mainland's booming cinema market.
"The deal is in accordance with Carlyle's long-term strategy to invest in the technology, media and telecom sector,"Zhou Hongqi, director of China Communications for Carlyle, told the Global Times, without disclosing financial details of the acquisition.
However, Reuters quoted people familiar with the deal as saying that Carlyle paid about $75 million to buy the stake from shareholders including Hong Kong tycoon Li Ka-shing.
http://www.globaltimes.cn/NEWS/tabid/99/ID/679620/PE-firms-bet-on-cinema-market.aspx
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