Permira exits Galaxy through $875 million block trade

The sale comes five years after Permira made its investment in the Macau casino operator and three weeks before its latest lockup was due to expire.
November 09, 2012

Private equity firm Permira has sold its remaining stake in Galaxy Entertainment Group, raising HK$6.78 billion ($875 million) and removing any further potential overhang on the stock caused by its divestment plan. The price was fixed at the bottom of the range for a 5% discount.

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