Two state-owned private equity investors may have lost $585 million on Nature’s Care, a Sydney vitamins maker put into administration on Monday.
Already a subscriber?Two private equity firms controlled by the Chinese government may have lost more than $585 million on a Sydney vitamins manufacturer, which was put into receivership Monday.
Press reports put the 2018 sale at $585 million, although the investors have since lent the company money, which means their losses could be higher. A spokesman for the Wu said they declined to comment. The Chinese funds couldn’t immediately be reached for comment. BDO partners Andrew Sallway and Jeff Marsden, and Duncan Clubb, the national leader of business restructuring, have been appointed managers of the business. An earlier plan to call in administrators would have cost $20 million, according to court documents.
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