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Permira Sells Galaxy For $614M
The funds of private equity firm Permira have sold their stake in Galaxy Entertainment Group for $613.66 million.
The funds of private equity firmPermirahave sold their stake inGalaxy Entertainment Groupfor $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 theHong Kong Stock Exchange. The funds now hold 528 million shares constituting 12.8 percent of the issued share capital of the company shareholding.Morgan Stanleywas the book runner for the deal, addsThe Wall Street Journal.
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