General Atlantic Raises US$129 Million Through Zhongsheng Sale (Asia)

Source: AVCJ  |  Author: Tim Burroughs

Global private equity firm General Atlantic has completed its third partial exit from Chinese automobile dealership group Zhongsheng Group, reducing the firm’s stake in the company to an approximate 5 percent. The value of the transaction is estimated at US$129 million. General Atlantic reportedly sold 65 million shares of the Hong Kong-listed company at a price of HKD15.38 each.