The funds of private equity firm Permira have sold their stake in Galaxy Entertainment Group for $613.66 million. The U.K. firm has offloaded 270 million shares in the Macau casino operator at $2.27 per unit.
The shares were sold through an institutional placement on the Hong Kong Stock Exchange. The funds now hold 528 million shares constituting 12.8 percent of the issued share capital of the company shareholding. Morgan Stanley was the book runner for the deal, adds The Wall Street Journal.
Click here for the release from Permira.
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