Carlyle in third China Pacific sell-down since December
The Carlyle Group is selling nearly one-third of its stake in China Pacific Insurance for up to $1 billion, according to a term sheet seen by Dow Jones Newswires. The transaction would be the latest in a series of sell-downs that have put the private equity firm on course for its biggest ever cash exit.
Carlyle is offering 250 million shares in China Pacific at HK$30.90-31.40, which represents a discount of 1.7-3.3% on the company's closing price on Tuesday. Prior to the placement, Carlyle owned 30% of...
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