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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Chinese sovereign wealth fund to back bid for ISS

Posted on 02 November 2010

From Telegraph: A Chinese sovereign wealth fund with assets of more than $300bn (£187bn) has emerged as a potential backer of a bid for ISS, the Danish cleaning-to-security group working on a £5bn-plus float or sale. China Investment Corporation is bidding with Apax Partners, a private equity firm in which it invests. Apax is one of at least seven buyout firms to have signed non-disclosure agreements with ISS’s owners – Goldman Sachs and Sweden’s EQT.

The other bidders are a consortium of BC Partners, Bain, Nordic Capital and Clayton, Dubilier & Rice and a pairing of CVC and Blackstone. Apollo and Warburg Pincus could bring private equity bidders to nine. The first-round bid deadline is November 17…………………………………….Full Article: Source


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