CVC drops Chenming Paper investment plan

摘要

Private equity fund,CVC Asia Pacific,has scrapped plans to invest more than 600m.in Shandong Chenming Paper Holdings Ltd,one of China's largest paper makers,as a result of government opposition and regulatory obstacles.In May 2006,Chenming Paper announced plans for a deal in which the Citigroup-backed CVC would buy a 30% stake in the Shenzhen-listed company.