Primavera Capital Takes Stake in Chinese Fertilizer and Methanol Producer

The private equity group Primavera Capital Group (Hong Kong) has taken a stake in China XLX Fertiliser (Xinxiang City,  Henan Province, China), one of the largest and most cost-efficient coal-based urea producers in China. Primavera Capital has agreed to subscribe its convertible bonds worth approximately $51 million through a wholly owned subsidiary. The private equity firm will indirectly hold 14.97% of the Chinese producer’s enlarged capital and become its third largest shareholder and largest institutional investor, following full conversion of the...

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