China's champion gymnast Li Ning considers taking company private, sources say [CNBC]
LI NING CO LTD UNSP/ADR (LNNGY)
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Source: CNBC
exchange, four people said, adding to a string of such potential deals in a faltering market. Li is considering leading a consortium to buy out Li Ning Co Ltd , which had a market capitalization of HK$52.85 billion ($6.8 billion) as of Monday, said the people, who have knowledge of the matter. Li, 61, founded Li Ning Co a few years after retiring from a decorated gymnastics career in 1988. He owns slightly more than 10% of the company, its 2023 interim report showed. A number of global and regional private equity firms, including TPG, PAG and Hillhouse Investment, have been tapped to see if they are interested in joining as an investor, two of the people said. The discussions to take Li Ning Co private are in the early stages and details have not been finalized, said the sources, who declined to be identified as the information was confidential. Li Ning made its Hong Kong debut in 2004. The company's shares jumped as much as 19% to HK$24.3 following the Reuters report — thei
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