Apr
13
China’s Family Businesses Sell Out to Private Equity
By-
Economic downturn, succession issues boost control deals
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Educated overseas, some heirs prefer finance or banking
After spending half his lifetime building the family snack food company in the eastern Chinese city of Hangzhou, Yao Weizhong had run out of steam. His 22-year-old son showed little interest in the business, and Yao needed fresh capital and expertise to keep it growing.
So Yao, 48, chose a path taken by a growing number of Chinese entrepreneurs these days: He sold a controlling stake in his company, Yaotaitai, to a private equity firm…
China’s Family Businesses Sell Out to Private Equity
