Permira exits Galaxy Entertainment for 2.8x return - update
Permira exited its remaining 5.9% stake in Hong Kong-listed Galaxy Entertainment Group for around $875 million on Wednesday. The series of divestments imply the private equity player generated a return of 2.8x on its initial investment five years ago, Henry Chen, partner of Permira told AVCJ.
The transaction came the same day as Galaxy shares reached a record high of HK$29.45 and just two weeks after the casino operator announced a 46% year-on-year increase in EBITDA at HK$2.6 billion ($335...
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