AAG Energy: How private equity duo missed sale window

Warburg Pincus and Baring, are exiting the Chinese natural gas producer at just HK$1.75 per share, way down on the HK$3 IPO price just three years ago.

Private equity giants Warburg Pincus and Baring Private Equity are to sell their combined 46% stake in AAG Energy for HK$2.9 billion $366 million, putting an end to their lengthy investment in the Chinese natural gas exploration company.

The pair will sell their stakes to Xinjiang Xintai Natural Gas as part of its voluntary offer for a 50.5% stake in the Hong Kong-listed natural gas producer, according to an announcement from the target company.

Warburg Pincus , which holds 25.21% of the company, and Baring PE, which holds 20.56%, will sell their entire stakes. The pair invested in AAG in 2010 and 2008...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222