Galaxy block trade

Strong demand for $140 million Galaxy Entertainment block

More than 80 investors came into the deal, which was completed before the market opened yesterday.
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The Galaxy Macau hotel and resort
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<div style="text-align: left;"> The Galaxy Macau hotel and resort </div>

The market had been watching for a placement in Macau casino operator Galaxy Entertainment for months, but when a transaction finally hit the market yesterday morning it wasn’t private equity firm Permira that was selling. It was another shareholder.

The identity of the seller wasn’t disclosed, but the size of the deal about $140 million or 1.2% of the company and the fact that it was a clean-up trade quickly dispelled any thoughts that it might be Permira, since it still owns about 12.8%. The UK-based firm offloaded part of its holdings in Galaxy in September last year and there has been speculation that it would return to the...

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