Bain Capital closed the book on a historically fraught relationship with Gome Electrical Appliance Holdings after Wednesday's close with a HK$1.041 billion $130 million clean up block trade that priced at HK$1.13 per share.
The US private equity firm made almost no money on the sale of the 5.4% stake, which it first purchased in July 2009 via as a convertible bond with a strike price of HK$1.18. At the time Gome was suspended and its founder, Huang Guangyu, under criminal investigation.
Potential investors no doubt queried why Bain chose to divest its remaining stake now. After experiencing so much trouble from Huang...
¬ Haymarket Media Limited. All rights reserved.
