Warburg Pincus Fully Exits 19% Stake Of Tulip Media

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Global private equity firm Warburg Pincus has fully exited Shanghai-headquartered outdoor advertising firm Tulip Media Corporation via a strategic transaction as Shenzhen-listed Shanghai New Culture Media Group has acquired 100% of Tulip, according to a security filing.

During the transaction, Warburg Pincus has sold its 19.14% stake, or 32 million shares, for RMB230 million (US$37 million) in cash.

China Money Network

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