Private equity firm Carlyle Group sold its remaining stake in China's No.3 insurer CPIC in a deal valued at $793 million, exiting the business with its largest dollar profit on an investment.After several stake sales in the past two years, Carlyle will finish with a total profit of more than $4 billion, five times the $800 million it invested in CPIC between 2005 and 2007 for a 17 percent stake, Thomson Reuters calculations show.By private equity standards, where making two times cash paid and a few hundred million is considered a success, the CPIC exit is an historic deal for Carlyle.Carlyle confirmed the sale, without disclosing the terms.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.44% or $-0.13/share to $29.29. In the past year, the shares have traded as low as $26.20 and as high as $30.66. On average, 746021 shares of TRI exchange hands on a given day and today's volume is recorded at 424165.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.65% or $-0.19/share to $28.84. In the past year, the shares have traded as low as $26.47 and as high as $30.25. On average, 891811 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1401832.
Source
