Carlyle Collects $285M In Partial Exit From Haier Stock Sales

Washington, D.C.-based global private equity firm The Carlyle Group has realized partial exits by selling its shareholdings in Hong Kong-listed Chinese home appliance maker Haier Electronics Group, according to a securities filling with the Hong Kong Stock Exchange.

Carlyle sold 100 million shares at HK$22.1 ($2.85) per share for a total price of around US$285 million in a block trade on 17 January, 2014.

Carlyle acquired US$194 million worth of convertible bonds and warrants of the Qingdao, Shandong province-based Haier in August 2011. Haier’s shares traded around HK$9 during the month.

Carlyle owned 240 million shares or 9.44% of Haier as of 30 June, 2013, according to Haier’s 2013 interim report.

China Expert network