On November 4, 2009, Goldman Sach’s Asia Special Situations Group (ASSG) agreed to sell half of its holding in Shineway Group, a Chinese meat processor known for its sausage products.  During the second half of 2006, a team led by Goldman and CDH Investments bought control of Shineway for about $256 million.  Since 2006, Goldman has earned about 5.0x on the investment and is selling the current stake for about $150 million.  The Shineway transaction was one of the first leveraged buyouts announced that involved a group of foreign financial sponsors.  Goldman’s original stake in the deal was about 10%.  After the deal, CDH, a spinoff from China International Capital Corp., will be the 2nd largest shareholder in Shineway.  Temasek will also remain a major holder in the business.

CICC is an investment banking joint venture 33% owned by Morgan Stanley.

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