Buyout firm Citic Capital Partners closed its purchase of a 33% stake in China Merchants Loscam, which provides pallet and other returnable packaging pooling solutions in the Asia-Pacific region, for an undisclosed amount.
The stake was sold by Sinotrans Ltd., which will still own 45% of China Merchants. The third undisclosed investor owns 22%.
Citic Capital Partners is the investment arm of CITIC Capital Holdings Ltd.
Latham & Watkins LLP was legal adviser to Citic Capital.