PAG Asia To Put $250M In Funtalk China

Hong Kong –based private equity firmPAG AsiaCapital is investing $250 million inFuntalk China Holdings, a distributor of wireless communications devices, accessories and content in China,AltAssetsreports. PAG will put $150 million in convertible preferred securities and $100 million in convertible bonds.

PAG will also get an option to invest an additional $80 million in convertible bonds between now and 2016. The move follows a management buyout offer approved by the company’s board. The offer was led by a consortium of company executives and backed by PAG subsidiaryARCH Digital Holdings,Capital Ally Investments,GM InvestmentandSinowill Holdings.

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