Actis exits Xiabu Xiabu in secondary sale
In the past 12 months we have seen a 10-fold increase in secondary sales in China by value, but it is unwise to read too much into the spike: 80% of the $2.9 billion total came from Goldman Sachs selling its minority interest in Industrial and Commercial Bank of China to Temasek Holdings.
Discount this outlier, however, and the statistics are still notable for the jump in secondary buyouts specifically. Three transactions in 2012 - more than the previous three years combined - saw control...
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