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KKR, Bain, TPG shortlisted for M.Stanley CICC stake

US private equity firms Kohlberg Kravis Roberts (KKR), Bain Capital and TPG Capital have all been shortlisted for the final round of bidding on Morgan Stanley's $1 billion holdings of China International Capital Corporation (CICC).

Morgan Stanley has been trying to sell off its stake in China's most profitable investment bank since 2007.

Morgan Stanley made its initial investment in 1995 when CICC was founded, acquiring shares for a mere US$37 million; its proposed selling prices represents a 27-times multiple over its buy-in.

Sources declined to be identified, and the private equity firms declined to comment on the transaction.

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This entry was posted on Wednesday, February 3rd, 2010 at 12:48 and is filed under Banking & Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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