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Wednesday, January 21, 2015

Bain Capital selling stake in China's GOME to raise $137 million -IFR, (NYSE: TRI)

Private equity firm Bain Capital is selling all of its remaining stake in Chinese electronics retailer GOME Electrical Appliances Holding Ltd to raise up to HK$1.06 billion ($137 million), according to a term sheet obtained by IFR, a Thomson Reuters publication. The deal, involving 922 million shares, is being marketed at an indicative price range of HK$1.12-$1.15 each, or a discount of 2.5 percent-5.1 percent to the pre-deal spot.UBS is the sole bookrunner for the deal.Bain agreed in 2009 to invest more than $400 million in GOME, which competes in China with firms like Suning Commerce Group Co Ltd.Shares of GOME closed up 2.6 percent on Wednesday at HK$1.19, outpacing a 1.7 percent gain for the benchmark Hang Seng Index.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.78% or $-0.31/share to $39.56. In the past year, the shares have traded as low as $33.21 and as high as $41.44. On average, 757560 shares of TRI exchange hands on a given day and today's volume is recorded at 1097777.