Baring Asia backs $2.8b Giant Interactive take-private
Baring Private Equity Asia is supporting a management buyout of Chinese online game developer Giant Interactive Group that values the New York Stock Exchange-listed company at approximately $2.8 billion. If the deal goes through it would be the second-largest PE-backed take-private of a US-listed Chinese company after Focus Media.
According to a regulatory filing, a consortium led by Baring Asia and Yuzhu Shi, Giant's chairman, are offering to buy all outstanding American Depository Shares (ADD) for $11.75 apiece in cash. This represents...
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