Hony Completes Restructuring of China Yaohua Glass

Chinese buyout firm Hony Capital has completed its restructuring of China Yaohua Glass Group Corp. after paying $100 million for control of the struggling glass maker, Reuters reported. The company is now owned 60% by Hony Capital and 10% by the IFC, a unit of the World Bank. The local government of Qinhuangdao, where Yaohua Glass is based, owns the remaining 30 percent stake, Reuters wrote.

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