Chinese private equity firm invests $80 mln in Western Potash
Canadian potash company Western Potash Corp (TSX: WPX) has secured an equity investment totaling $80 million from Beijing Tairui Innovation Capital Management, a Chinese private equity firm focused on energy and mining industries. The transaction will give Tairui a 51 percent ownership stake in the company and the ability to appoint four nominees to the board of directors. Western Potash said the investment's proceeds will be used for the development of a mining facility on its Milestone property located in southern Saskatchewan. Founded in 2007, Western Potash has its headquarters in Vancouver.
6 July 2015•4 mins read
