KKR, TPG in Talks To Buy CIC Corp. Stake From Morgan Stanley
Morgan Stanley is in late stage talks to sell its stake in China International Capital Corp to Kohlberg Kravis Roberts & Co and TPG Capital for more than $1 billion, according to three sources familiar with the situation. Morgan Stanley has been exploring a sale of its 34.3 percent stake in CICC, one of China's leading investment banks. The bank paid just $37 million for its piece of CICC when the Chinese bank was founded 13 years ago.
23 February 2010•1 min read
