Wednesday, March 21, 2012

Reuters: Deals: Morgan Stanley private equity buys $300 million stake in Tianhe Chem

Reuters: Deals
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Morgan Stanley private equity buys $300 million stake in Tianhe Chem
Mar 21st 2012, 08:16

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The outside of the Morgan Stanley offices is seen in New York January 18, 2012. REUTERS/Shannon Stapleton

The outside of the Morgan Stanley offices is seen in New York January 18, 2012.

Credit: Reuters/Shannon Stapleton

HONG KONG | Wed Mar 21, 2012 4:16am EDT

HONG KONG (Reuters) - Morgan Stanley's (MS.N) Asia private equity arm has invested $300 million in China's Tianhe Chemicals Group, the two companies said on Wednesday, a deal that will help the company expand into U.S. and European markets.

Morgan Stanley's private equity arm would take a minority stake in Tianhe Chemicals, according to a person familiar with the matter.

As part of the deal, Homer Sun, the fund's chief investment officer, will join Tianhe's board.

Morgan Stanley Private Equity Asia has invested about $2.4 billion in Asia, primarily in highly structured minority investments and control buyouts.

Tianhe is the largest lubricant oil additive producer in China and a leading high-end specialty fluorochemical producer globally, the statement said.

(Reporting by Stephen Aldred; Editing by Chris Lewis)

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