TPG and partners sell remaining Lenovo stake

TPG, Newbridge and General Atlantic raise a combined $198 million at a tight 1.4% discount.

Three private equity firms last night sold their remaining stake in Chinese PC maker Lenovo Group at a tight discount of just 1.4% versus yesterday’s close. The trade, which totalled HK$1.54 billion $198 million, came after the company reported strong earnings for the second quarter and on the back of a 25% gain in the stock since late August.

The vendors were TPG, Newbridge Asia an Asian affiliate of TPG and General Atlantic, which teamed up to...

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