Bain, GA, KKR cited in CICC stake bidding
Kohlberg Kravis Roberts & Co. has been named as a potential bidder for the 34.3% stake in leading PRC investment bank China International Capital Corp. (CICC) held by Morgan Stanley.
Taiwan’s Fubon Financial has also been cited in the auction, ostensibly eyeing mainland expansion. Morgan Stanley has been seeking a buyer for years to satisfy regulatory constraints on its planned partnership with China Fortune Securities, with a previous round of bidding in early 2008 drawing in Bain Capital, General Atlantic, JC Flowers & Co. and TPG Capital, before the process stalled amid pricing and regulatory concerns. Bain Capital and General Atlantic have reportedly rejoined the bidding, with Jonathon Zhu, a former regional Morgan Stanley lead, now a Bain MD in Hong Kong.
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