Carlyle To Sell $1B China Pacific Shares

Carlyle Group is planning sell around one third of its stake in China Pacific Insurance.

Carlyle Group is planning sell around one third of its stake in China Pacific Insurance, The Wall Street Journal reports. The private-equity firm will raise a total of around $1 billion from the sale.

As a part of the deal, Carlyle will sell 250 million China Pacific shares at between $3.97 and $4.03 per unit. Deutsche Bank, Goldman Sachs and Morgan Stanley are acting as the joint bookrunners on the sale, adds Reuters.

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