TPG in rare China leveraged buyout
TPG Capital's full acquisition of packaging firm HCP Holdings, worth approximately $500 million, has a strong claim to be the largest ever leveraged buyout of a Chinese company. This is notoriously difficult territory for dealmakers and PE statisticians alike.
Buyout opportunities are thin on the ground in China, a result of sizable assets either being in the hands of entrepreneurs who are unwilling to sell or government-linked entities that are unable to. Even...
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