Biz Scene: Grapevine

TPG investment

TPG is investing in pharmaceutical research outsourcing company Shanghai ChemPartner, the Wall Street Journal reported, citing unidentified people.

The US private-equity company decided to invest in the Shanghai company, one of China's largest drug-research outsourcers, at least a month ago, the newspaper said.

TPG will also invest in ChemPartner's sister company ChemExplorer, the report said.

The stake may be worth $30 million to $50 million, or about 20 percent to 25 percent of the company, it said.

(China Daily 10/26/2007 page15)