MSPEA will hold a 72 per cent stake in Hi-24’s holding company after buying more than two million shares according to a filing with the Hong Kong Stock Exchange.
It showed Hi-24 had net assets of about HK$17.8m ($2.3m) at the end of June.
MSPEA bought most of the shares from CFSH chairman Siu Lam Cheung, with the sale being made by CFSH holding company KPB Marketing.
The deal means MSPEA now has 30 portfolio companies, although Hi-24 is the only one concerned with convenience store business.
Last month the firm joined Abax Global Capital as part of a consortium which bid $330m to take-private Chinese crop nutrient company Yongye.
The consortium led by Yongye chairman and CEO Zishen Wu offered $6.60 per share of the company’s common stock, to be financed through a combination of debt and equity.
MSPEA has invested about $2.4bn in Asia since it began targeting the region almost 20 years ago, primarily in highly-structured minority investments and control buyouts in profitable, growth-oriented companies.
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