Li Ning founder sells 25% in TPG-backed sportswear retailer
Chinese former Olympic gymnast Li Ning has agreed to sell a 25% stake in the sportswear company that bears his name – and counts TPG Capital among its investors – to Viva China, a Hong Kong-listed talent management agency. A company wholly owned by Li and his brother has a majority interest in Viva China.
According to a regulatory filing, two holding companies controlled by the Li family will between them sell 266.4 million shares in Li Ning to Viva China at HK$5.10 apiece, a 5.6% premium to the previous...
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