By Joao Lima
China Three Gorges had bought a 21% stake in EDP more than five years ago as part of a Portuguese government bailout involving the International Monetary Fund.
The metals business is one of the largest copper, zinc and lead concentrates merchants worldwide, according to Louis Dreyfus, and has been one of the group’s most profitable activities in recent years.
Warburg Pincus and Temasek are also joining the round, which would make Ant the world’s largest fintech firm.
Apollo Global Management LLC, CVC Capital Partners and Indian drugmaker Aurobindo Pharma Ltd. have also been picked to make final offers.
Hidden Hill Modern Logistics Private Equity Fund will invest in companies focusing on developing logistics technologies.
The fund will mostly target consumer technology startups with an expected close over the coming months.
China’s Zhejiang Geely and Volvo have discussed valuing the Swedish automaker in a range of $16 billion to $30 billion in a stock sale.
The round was joined by Shenzhen Venture Capital, Greentown Service Group, Galaxy Holdings and existing investors Legend Capital, Matrix Partners China and SIG.
Li’s career began in 1950 as a plastic-flowers manufacturer, which he then transformed into a global conglomerate.
Hong Kong now accepts applications from firms with different share classes as well as from unprofitable biotech businesses, a revision intended to attract earlier-stage developers like Stealth.