Carlyle Exits China Pacific With $792M Stock Sale

Law360, New York (January 7, 2013, 7:24 PM EST) -- Carlyle Group LP will sell its remaining minority stake in China Pacific Insurance Group Co. Ltd. for roughly $792 million, completing the Washington-based private equity titan's exit from the Chinese insurer, multiple media outlets reported Monday.

Carlyle will sell its remaining stake in China Pacific — roughly 7.3 percent of the insurer's listed shares on the Hong Kong Stock Exchange — according to a local term sheet, news reports said. The sale is for roughly 203 million shares, priced between HK$30.00 (US$3.87) and HK$30.30 (US$3.91)....
To view the full article, register now.