Shaw Kwei completes exit from China's YongLe with 4.8x return
Shaw Kwei & Partners has completed its exit from Chinese PVC adhesive tape manufacturer YongLe Tape – securing a gross multiple of 4.8x – as Avery Dennison purchased the asset for a total consideration of $300 million.
The deal announced in February comprised an initial payment of $190 million plus additional earn-outs of up to $55 million. Under the final agreement, Shaw Kwei has received $205 million up front, a cash...
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