Bain Capital buys stake in biomass firm for $400 million

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Bain said in response to a Reuters query that the firm had invested $400 million of growth capital for a significant stake in the company, marking one of its largest transactions in Asia related to environmental, social and economic issues. governance (ESG).

After the transaction, EcoCeres will be jointly controlled by Bain Capital and Hong Kong & China Gas, rather than being controlled solely by the latter as before, according to a filing on the transaction published on the website of the Administration of – China’s State for Market Regulation in November. .

The deal follows a Series A investment in EcoCeres by Kerogen Capital last February, Bain said.

The new funding will be used to build EcoCeres’ facilities in Malaysia to serve international customers and boost total production capacity, according to Bain.

(Reporting by Riya Sharma in Bengaluru, Kane Wu in Hong Kong and Roxanne Liu in Beijing; Editing by Sherry Jacob-Phillips)

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