On Jan. 8, Shandong Meiling Group (Meiling Group) signed a PE financing agreement with Aureos Capital. According to the agreement, Aureos Capital will purchase 15% stake in Meiling Group for US$8.5M, which will be put into place in the first half year of 2010. The financing may push forward the listing process of Meiling Group.
Founded in 1958, Meiling Group consists of Shandong Meiling Chemical Equipment Co., Ltd. and Meiling Environment, covering a total area of 360,000 square meters. The Group focuses it business on two major industries, i.e. the manufacture of high-efficiency, energy-saving and environment-friendly machinery as well as water-related business.
It is reported that Zibo municipal government in Shandong Province has been promoting the listing of the enterprises. Up to now, a number of companies including Yinshilai Group, Wel-Fit Metal Products Co., Ltd., Guihe Xianxing Paper Holdings Pte Ltd. and Shandong Qilong Chemical Co., Ltd. are making preparations for listing.
