Top China ADR Portal

China ADR stock research


Warning: strtotime(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 56

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home1/chinaves/public_html/libraries/joomla/utilities/date.php on line 198

TPG Parts With Ping An Stake

E-mail Print PDF

sale2 September 3, 2010 (Chinavestor)  Private equity firm TPG Inc. has sold its remaining stake in Ping An Insurance (HKG:2318), China's second-largest insurance company, for $1.16 billion. TPG's Newbridge Capital LLC raised that sum by selling about 139.1 million Ping An Insurance (HKG:2318) shares, ending a six-year investment in the company.

The stake sale, which follows an earlier deal in which TPG sold more than half its stake in Ping An (HKG:2318), gives TPG a return of around 16 times on its acquisition of a 17% stake in midsize Chinese lender Shenzhen Development Bank Co. Shenzhen Development Bank (CH:000001) six years ago for $150 million, according to the Wall Street Journal.

Ping An (HKG:2318) said yesterday it paid $4.3 billion to acquire a 22% stake in Shenzen Development Bank (CH:000001), bringing its stake in the bank to almost 52.4%.

Texas-based TPG, which manages $48 billion in assets, raised another $1.24 billion by selling some its Ping An (HKG:2318) stake earlier this year. The private equity firm formerly held a stake in Lenovo Group (HKG:0992), China's largest computer maker, which it sold in February, according to Bloomberg News.



If you like us, spread the word to the fellow investors on your favorite Social Bookmarking websites
Reddit! Del.icio.us! Mixx! Free and Open Source Software News Google! Live! Facebook! StumbleUpon! TwitThis Joomla Free PHP
 

!!! CHINAVESTOR.COM is for SALE !!!

BUY this domain with all its credentials. Chinavestor.com has been added to Google News and Finance since 2008! Huge web traffic upside potential! Website is optimized for Chinese stocks but can easily be tweaked. Contact Seller Here

sale1
G_news
Check out The Benefits of Getting into Google News!