Morgan Stanley shortlists six for CICC stake
Morgan Stanley has shortlisted five private equity firms and Taiwan’s Fubon Financial Holding for the sale of its 34.3% stake in China International Capital Corp (CICC), in what could be the next large leveraged acquisition in Asia.
Bain Capital, Carlyle Group, General Atlantic, Kohlberg Kravis Roberts and TPG are believed to have made it to the next round in a deal for Chinas largest investment bank, which is expected to fetch $1.2bn-$1.5bn.
The choice of Fubon Financial Holding is unexpected as relations between China and
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