Primavera and FountainVest to Acquire Stake in LBX from EQT for USD557 Million
Posted On: 27 Nov 2019 | Source(s): Laobaixing, AVCJ | Author(s): Larissa Ku
China-focused private capital investors Primavera Capital Group and FountainVest Partners have acquired a 25 percent stake in China-listed retail pharmaceutical chain Laobaixing Pharmacy Chain (LBX) from global private equity fund manager EQT Partners for USD557 million. FountainVest China Capital Partners Fund III and Primavera Capital Fund III acquired a total of 71 million shares in the company, splitting them evenly. LBX currently operates at least 4,800 stores across 22 provinces.