The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
FUND RAISING
Database Reference: F231109-252
Business: Sina
Web: http://www.sina.com
Location: Hong Kong
Region: Asia
Business description: Online media company and MVAS provider in the People’s Republic of China and the global Chinese communities.
Category: Media: Entertainment
Contact 1: Charles Chao, Chief Executive
Investor 1: Sequoia Capital
Investor 2: FountainVest
Investor 3: CITIC Capital
Amount raised: $180,000,000
Participants: 3
Details: Sequoia Capital, FountainVest and CITIC Capital have agreed to finance a management-led plan to invest $180 million in China’s leading Web portal, Sina (according to Reuters). Sina announced in September that it was in talks with private equity funds to back a plan for them to buy about $180 million worth of shares in an effort to strengthen control of the company. The deal calls for Sina to issue 5.6 million new shares, worth 9.4% of the company. Sina said it will use part of the funds to finance future acquisitions.
Links
Fusion Corporate Partners 
Leave a comment