Buyout shop Permira is looking to raise $506 million by selling off a stake in Macau’s Galaxy Entertainment Group Ltd., Reuters reported, citing news in the IFR. Morgan Stanley is the sole bookrunner for the sale.
(Reuters) – Private equity firm Permira is seeking to raise about $506 million by selling a stake in Macau’s Galaxy Entertainment Group Ltd , IFR reported on Thursday.
Sole book runner Morgan Stanley is offering shares of the casino operator at HK$17.70-18.10 each, compared with Thursday’s closing price of HK$18.66 each, IFR reported, citing a term sheet. (Reporting by Fiona Lau. Writing by Denny Thomas. Editing by Michael Flaherty)
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