IDG Weighs $976 Million Deal for Chery Auto’s Parent Stake, Sources Say
- Buyout firm is raising funds for stake purchase in Chery Group
- Chery Auto is exploring domestic IPO filing as soon as 2024
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IDG Capital is considering buying shares in Chery Holding Group Co. from existing shareholders for as much as 7 billion yuan ($976 million), people familiar with the matter said, potentially giving the buyout firm exposure to one of the few unlisted major carmakers in China.
Beijing-based IDG is raising funds from investors for the potential transaction, said the people, who asked not to be identified discussing a private matter.