A consortium led by the private equity arm of Goldman Sachs is buying about a 68 percent stake in South Korea-based industrial gas business Daesung Industrial Gases for US$400 million. Other investors include Lee Min-Joo, former chairman of cable TV provider C&M. As part of the deal, Daesung will have the option of buying back the company at an agreed-upon valuation in four years. Separately, the private equity arm of Goldman Sachs, development finance institution Asian Development Bank (ADB) and private equity firm Global Environment Fund (GEF) have invested US$70 million, US$50 million, and US$20 million, respectively, in India-based renewable energy producer ReNew Power. The US$140 million infusion will help ReNew Power to double its clean energy portfolio to 1,000MW by 2015. Goldman previously invested US$135 million in the company in 2011.