Carlyle Raising Around $792 Million by Selling CPIC Shares - Term Sheet
01/07/2013| 05:25am US/Eastern
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By Fiona Law
HONG KONG--Private equity firm Carlyle Group LP is raising around US$792 million by selling shares in China Pacific Insurance (Group) Co. (>> China Pacific Insurance (Group) Co., Ltd), according to a term sheet seen by Dow Jones Newswires on Monday.
The Carlyle Group is selling around 203 million China Pacific shares in a HK$30.0-HK$30.3 range, the term sheet said.
The offer price represents 2.3%-3.2% discount to China Pacific's last closing price of HK$31.0 Monday, it said.
Goldman Sachs and UBS are handling the placement, the term sheet said.
Write to Fiona Law at fiona.law@wsj.com
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