More Chinese leveraged buyouts are likely to follow Focus Media's successful take-private deal, tallying with the government's desire to trim excess capacity in the economy, private equity professionals said at a conference in Hong Kong on Thursday.
Focus Media, China’s largest out-of-home advertising network operator, delisted from Nasdaq last year after a consortium led by Carlyle, FountainVest, Citic Capital, China Everbright, Fosun International and Focus Media’s CEO announced its $1.725 billion acquisition. It was the largest Chinese leveraged buyout financing ever.
“The Focus Media deal really sets the stage for more Chinese LBOs,” said Frankie Fang, a Managing Director...
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