Permira in US$870 Million Macau Casino Exit (Asia)

Source: PE Asia  |  Author: Clare Burrows

European private equity firm Permira has agreed to sell its remaining 5.9 percent stake in Chinese casino operator Galaxy Entertainment Holdings for US$870 million. The firm had previously sold parts of its stake Galaxy Entertainment in August 2011 for US$613 million and September 2012 for US$755 million. Following the completion of the final sale, Permira will have earned a cash multiple of 2.8x.