Permira sells final 5.9 pct stake in Galaxy Entertainment

HONG KONG Wed Nov 7, 2012 8:23pm EST

HONG KONG Nov 8 (Reuters) - Private equity fund Permira is selling its remaining 249.6 million shares, or 5.94 percent stake, in Galaxy Entertainment Group Ltd, Hong Kong-listed Galaxy said in a stock exchange filing on Thursday.

Permira is seeking to raise about $870 million through the block deal, offering shares at HK$27.17-HK$27.46 each, IFR reported separately. The shares closed at HK$28.60 on Wednesday. UBS is the sole book runner for the trade, IFR said.

Permira's sale is expected to be completed on Nov. 12, the Galaxy filing said. (Reporting by Fiona Lau for IFR and Denny Thomas; Editing by Richard Pullin)