CITIC Capital finally bags AsiaInfo take-private
Private equity firms have supported 11 management buyouts of Chinese firms listed in the US since mid-2011. Until last week, only two of these successful transactions - Funtalk China and Focus Media - were control buyouts, where one or more PE backers emerged with the largest shareholding; in the majority of cases the chairman simply rolled over his commanding equity position into the acquisition vehicle.
AsiaInfo-Linkage has now joined this select group. A consortium led by CITIC Capital Partners completed a deal that values the telecom software provider at approximately $887 million almost two years to...
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