Privatisation of private-equity giants: $500 million trillion in investment

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Beijing time, February 13 morning news, Reuters quoted people familiar with the statement that Lenovo's Hong-Yi Capital is discussing joining a consortium led by the Baring Asia, to participate in 2.8 billion of dollars to the giant network to privatize the deal.

Hong-Yi Capital is Lenovo Group's private equity firm. Sources said the company was discussing investing up to $500 million in equity securities to provide some money for the privatisation deal.

The consortium that launched the giant network privatisation deal includes Shi Yuzhu, chairman of the giant network. Baring Asia needs to raise about 1.5 billion dollars to buy 52.8% of the shares that the giant network has not yet owned. The consortium is still trying to borrow money to finance the deal.

An external spokesman for Baring Asia declined to comment on the news, as did the giant network Hongyi capital spokeswoman.