HONG KONG: Carlyle Group LP funds are taking legal action against Chinese automated teller machine company ATMU Inc, claiming to be owed US$368.9mil after ATMU allegedly missed a four-year deadline for an initial public offering (IPO).
The Hong Kong-based Carlyle Asia Growth Partners IV and CAGP IV Co-investment filed a winding-up petition against ATMU in the Grand Court of the Cayman Islands this month, seeking to recoup their investments. The Chinese company was incorporated in the Caymans in 2006, according to the legal document.
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