TPG reportedly in Nissin Leasing (China) disputeGlobal private equity firm TPG is having trouble with an investment in China. Nissin Leasing's staff have asked police to remove TPG representatives because they are unhappy about funding and fee arrangements, people familiar with the matter told the Financial Times.
Nissin Leasing (China) is a subsidiary of Japan's Nissin Group
TPG completed its approximately ¥31bn ($288m) investment in Japanese non-bank financial firm NIS Group Co. and Nissin Leasing (China) Co. in February of this year. As a result of the deal, TPG indirectly owns 50 per cent of Nissin Leasing (China).
The situation escalated back in July when TPG made changes to the senior management structure, removing two local executives.
The former leaders of Nissin Leasing (China) and TPG are expected to meet in court this month, according to the Financial Times.
The dispute highlights difficulties Western firms can face when investing in China.
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Private Equity News» By News Type» Deal News
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