Carlyle Pares Stake in Kaisa as Chinese Developers Rally (Asia)
Source: The Wall Street Journal, Reuters | Author: Isabella Steger
The Carlyle Group has reduced its stake in Chinese property company Kaisa Group Holdings by selling 216 million shares in the company on the Hong Kong Stock Exchange. The shares reportedly comprised half of Carlyle’s stake in Kaisa and were acquired during its 2007 investment in the company. Financial details of the transaction were not disclosed, but a term sheet for the divestment reportedly valued the stake at approximately US$67 million.