Permira raises $613 million from Galaxy sell-down

The private equity investor sells the shares at more than twice the price it paid four years ago, but keeps a 12.8% stake as a long-term investment.

Galaxy's flagship casino, Galaxy Macau AFP

UK-based private equity firm Permira has raised HK$4.78 billion $613 million by selling part of its holdings in Macau casino operator Galaxy Entertainment.

The deal, which was launched and completed after the Hong Kong market closed yesterday, came a day after Galaxy reported strong first-half earnings and almost four years after Permira made its investment in the Hong...

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