TPG buys China packaging firm HCP for $600m - report
TPG Capital has reportedly acquired Chinese packaging company HCP Holdings for around $600 million through a leveraged buyout. The news comes after an earlier attempt by Morgan Stanley's Asia private equity arm to purchase 80% of the company for around $500 million.
The HCP buyout is said to be backed by a five-year loan of $300 million from a consortium of several banks, including Citigroup, DBS, Chinatrust Commercial Bank and Cathay Bank. A purchase agreement...
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