China Forces Divestiture In PE Fund’s Textile Deal

Law360, New York (November 3, 2011, 1:32 PM EDT) -- China's Ministry of Commerce has signed off on Alpha Private Equity Fund V's acquisition of Italian textile machinery company Savio Macchine Tessili SpA on the condition that the fund sells its stake in a rival manufacturer, the regulator said Wednesday.

Without the divestiture, the deal — reportedly worth about €300 million ($413 million) — would have increased the likelihood that APEF would have been able to coordinate the operations of Savio and Switzerland-based Uster Technologies Co. Ltd., the only two companies in the world making electronic...
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