CHINA'S HONGSHAN BUYS MARSHALL GROUP STAKE IN $1.15 BLN DEAL AS TELIA SELLS

HongShan Capital Group said on Friday it has struck a deal to acquire a majority stake in Marshall Group in a deal valuing the audio equipment maker at 1.1 billion euros ($1.15 billion). Swedish telecom group Telia said separately it has agreed to sell its 9.6% stake in Marshall Group to HongShan Group for 1.15 billion Swedish crowns ($105 million).

The transaction, subject to regulatory approvals, would mark the Chinese venture capital giant's largest investment in Europe. The founder Marshall family will retain over 20% of the company after the transaction while other shareholders Altor, Time for Growth and Zenith VC also agreed to sell their stakes.

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