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July 27, 2011

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Apax seals purchase

EUROPEAN buyout firm Apax Partners yesterday said it has completed the acquisition of Golden Jaguar, a buffet-style restaurant chain targeting China's rising urban middle classes.

Apax declined to reveal how much it spent on the deal or the size of its stake in the Shanghai-headquartered firm.

Analysts said the deal may help Golden Jaguar go public in Hong Kong. A report by Ming Po said in March that Golden Jaguar had planned to raise US$200 million through an initial public offering.

The investment in Golden Jaguar is Apax's latest move on the Chinese mainland since its arrival in 2009. The foreign private-equity firm has also invested in Soufun.com, one of China's leading real estate websites.

 

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