China Auto Rental Bags $200M Warburg Pincus Investment

Law360, Chicago (July 10, 2012, 6:54 PM EDT) -- Private equity firm Warburg Pincus LLC on Monday announced it is making a $200 million investment in Beijing-based car rental company China Auto Rental Holdings Inc. after the car company canceled a planned initial public offering in the U.S. earlier this year.

The New York-based investment house will make the all-equity investment through an affiliate to acquire an undisclosed stake in the car rental company. Legend Holdings Ltd., a Chinese investment holding company, previously picked up a nearly 65 percent stake in China Auto Rental in...
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