CVC, RBS exit Samsonite with $528 mln stake sale-terms

HONG KONG, March 25 Mon Mar 25, 2013 12:23am EDT

HONG KONG, March 25 (Reuters) - Private equity firm CVC Capital Partners and Royal Bank of Scotland sold a combined $528 million stake in Hong Kong-listed luggage maker Samsonite International, according to a term sheet seen by Reuters on Monday.

The 212.4 million shares were sold at HK$19.28 ($2.48) each, the terms showed. That would put the total deal at about HK$4.1 billion, with about 65 percent of the shares sold by CVC and the remainder by RBS.

Luxembourg-based Samsonite listed in Hong Kong in 2011 in a $1.25 billion initial public offering, with CVC and RBS jointly raising about $821 million by selling into the IPO.

With the latest sale, CVC and RBS exited completely their holdings in the company.

Goldman Sachs was the sole underwriter on the selldown. ($1 = 7.7628 Hong Kong dollars) (Reporting by Elzio Barreto and Clement Tan; editing by Miral Fahmy)

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