trending Market Intelligence /marketintelligence/en/news-insights/trending/Jl0b8v9kJHIG8g7MjYeB5A2 content esgSubNav
In This List

Carlyle to purchase 10% stake in Chinese textile maker Luolai Lifestyle

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Bed, Bath, and Bankruptcy: Using Quantitative Credit Models to Predict Corporate Defaults

Blog

Banking Essentials Newsletter: January 11th Edition

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback


Carlyle to purchase 10% stake in Chinese textile maker Luolai Lifestyle

U.S. private investment firm Carlyle Group LP agreed to buy a 10% stake in Chinese household textile company Luolai Lifestyle Technology Co. Ltd., DealStreetAsia reported.

Carlyle, through its CA Fabric Investments unit, will acquire more than 75.4 million shares of Luolai for 9.62 yuan apiece, or a total of 726 million yuan, from Shihezi Zhongbang Stock Investment Management Partnership and a Luolai co-founder's son, Xue Junteng, the report noted.

Under the deal's terms, Carlyle will name a representative to Luolai's board. The investor and its affiliates are also entitled to buy up to 20% of Luolai's equity in the future, according to the report.

The textile maker's shares jumped 4.05% after market close March 19, according to S&P Global Market Intelligence data.

As of March 19, US$1 was equivalent to 6.71 yuan.