Carlyle Group Increases Investment in Chinese Fertilizer Firm

Carlyle Group has increased its investment in China Agritech, by exercising its option to purchase $10 million in common stock, China Agritech announced today. The company has issued 1,857,024 new shares to Carlyle Group. The option was included in Carlyle Group's purchasing of an equity stake in China Agritech in October 2009. "This investment will immediately provide better visibility to our financial statements, as there will no longer be non-cash charges related to these warrants that will affect our earnings," says China AgriTech CEO Yu Chang. The...

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