Morgan Stanley on track for KKR/TPG CICC exit
US private equity giants Kohlberg Kravis Roberts & Co. (KKR) and TPG Capital have emerged as the final bidders in the auction to take the 34.3% stake in China International Capital Corp (CICC), the nation’s largest investment bank, from Morgan Stanley for more than $1 billion.
Bain Capital, also believed to be in the final round of bidding, has meanwhile disappeared from the race. The billion-dollar sale of the stake in CICC, whose majority owner is China Investment Corporation...
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