KKR Agrees to Sell Shares in China Greenland Rundong Auto (Asia)
Source: China Greenland Rundong Auto Group, Asian Venture Capital Journal | Author(s): Tim Burroughs
Global investment firm KKR has agreed to sell 168 million convertible preference shares in China-based car dealership China Greenland Rundong Auto to the company’s founder for approximately US$76 million. Upon completion of the transaction, KKR’s holding in the company will fall from 27 percent to seven percent. KKR originally invested US$100 million in the company over four funding rounds between 2010 and 2011 through KKR China Growth Fund.