Shandong
StanChart PE arm invests in China solar firm Sangle
Updated: 2010-01-03 11:54
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The private equity arm of Standard Chartered closed a deal to invest $22.3 million in Sangle Solar Energy Co Ltd, a mainland maker of branded solar water heaters, the Asia-focused bank announced.
Shandong Provincial Academy of Science, backed by the local government, will remain a major shareholder in Sangle, headquartered in the northern Chinese province of Shandong, the British bank said in a faxed statement. The statement did not elaborate on the stake size Standard Chartered Private Equity Ltd (SCPE) would receive for its investment.
Editor: Guo Changdong
