Carlyle Buys Stake in Chinese Group

US investment firm the Carlyle Group has acquired an 11.3% stake in CP Pokphand (CPP), the Chinese subsidiary of Charoen Pokphand Group, Thailand’s biggest conglomerate, for $175m.

The acquisition follows Carlyle’s purchase of a 13.62% stake in China Fishery Group for $190m in June, and a 17.3% stake in Guangdong Yashili Grou, one of China’s biggest infant-formula producers, in September 2009.

A further 385.244 million convertible preference shares will be placed with other investors, so the total divestment will represent 13.23% of CPP’s ordinary shares.

The companies expect the agreement to be completed by 22 July.