Carlyle sells $1bn of China Pacific Insurance
Private equity house Carlyle Holdings raised HK$7.72bn ($991.6m) from a well-flagged sale of China Pacific Insurance shares on Tuesday night. The offer was priced at the bottom of its range after attracting investors who missed out on a similar block sale at the start of the year.
Deutsche Bank, Goldman Sachs and Morgan Stanley won a highly competitive bidding process on Tuesday afternoon. But investors had been expecting the deal since July 9, when Carlyle came off its six month lock up period following the firms $1.8bn sell down in January.
"There was widespread demand for
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