The Beijing-based private equity firm will pay $170m via two of its vehicles for an undisclosed stake, while Suning will acquire a 44 per cent interest for $250m, according to the Asian Venture Capital Journal.
PPTV’s venture backers including Softbank China Venture Capital, Bluerun and Draper Fisher Jurvetson will sell their interest in the business.
The firms currently hold a combined stake of 22.86 per cent, Softbank Corp owns 35 per cent and the company’s management holds a 42.14 per cent stake.
Meanwhile, Hony is reportedly looking to sell shares in CSPC Pharmaceutical Group for $260m.
Copyright © 2013 AltAssets