U.S. Firms to Invest $350 Million in Lenovo

From Reuters

Three U.S. private-equity firms have agreed to invest $350 million in Lenovo Group Ltd., the top Chinese computer maker that is buying IBM Corp.'s personal computer business, the parties confirmed.

Under terms of the deal, Texas Pacific Group will invest $200 million, General Atlantic will put up $100 million and Newbridge Capital will invest $50 million in Lenovo, Texas Pacific partner Justin Chang said.