Bain increases stake in GOME as founder vies for control

09/15/2010 | People's Daily (China) · Wall Street Journal, The · Bloomberg

Bain Capital, a private-equity firm based in the US, has bolstered its stake in China's GOME Electrical Appliances Holdings in a move that dilutes the holdings of the company's founder. Huang Guangyu, the founder and largest shareholder of GOME who is serving a 14-year term in prison, continues to strive for control of GOME. Guangyu is trying to oust the retailer's chairman, Chen Xiao, and prevent any further dilution of his stake.

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People's Daily (China) · Wall Street Journal, The · Bloomberg

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