Carlyle to sell stake in China's Haier Electronics - IFR
HONG KONG Jan 17 (Reuters) - Private equity firm Carlyle Group is seeking to raise up to $290 million by selling a stake in Chinese home appliance maker Haier Electronics Group Ltd, IFR reported on Friday, citing a term sheet of the deal.
Carlyle is offering 100 million shares in Haier Electronics in a range of HK$22.00-$22.50 each, reflecting an up to 10 percent discount to Friday's close, IFR, a Thomson Reuters publication said.
The stock has doubled since July, and closed up 8.4 percent on Friday to its highest since 1999, the report added.
Carlyle took a 9 percent stake in Haier Electronics in 2011 for $137 million, with an option to invest another $57 million through convertible bonds and warrants. Carlyle has a 90-day lock-up on the residual shares held under those agreements, according to the report.
Goldman Sachs Group is sole bookrunner.
- French warplanes search Mali desert for crashed Air Algerie plane |
- At least 15 killed by shelling of Gaza school; toll exceeds 760 |
- Exclusive: Ukraine rebel commander acknowledges fighters had BUK missile
- U.S. House panel votes to authorize lawsuit against Obama
- Lawyers call for outside probe of 'bungled' Arizona execution |