Carlyle Selling $1B Stake in China Pacific Insurance

The Carlyle Group is planning to sell 250 million shares in China Pacific Insurance for a price tag that could reach as high as $1 billion, Reuters reported, citing the IFR. Deutsche Bank, Goldman Sachs and Morgan Stanley are the joint bookrunners, Reuters said.

(Reuters) – U.S private equity fund Carlyle Group is selling 250 million shares in China Pacific Insurance for up to $1 billion, IFR reported on Tuesday.

Carlyle is offering the shares in the HK$30.90-31.40/share range, IFR, a Thomson Reuters publication said.

Deutsche Bank, Goldman Sachs and Morgan Stanley are the joint bookrunners, the report said.

(Reporting by Shankar Ramakrishnan)