The Zombie Dancers

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(Bain Capital Said to Buy 35% of SUNAC Group from Lehman)


TIANJIN, Sep 23, 2009 (SinoCast Daily Business Beat via COMTEX) -- Bain Capital
LLC has agreed to take over a 35% stake in Tianjin-based real estate developer
Sunac China Holdings Limited (SUNAC Group) from the bankrupt Lehman Brothers
Holdings Inc., disclosed sources familiar with the matter on September 22.

The holdings, on which Lehman Brothers spent USD 200 million in 2007, is about
to be acquired by a fund under the aegis of Bain Capital, said a source. The
stake came under the custody of the bankruptcy administrator of Lehman Brothers
after the US-based firm spiraled into a bankruptcy amid the financial crisis,

The deal came shortly after SUNAC Group filed for an initial public offering
(IPO) in Hong Kong, according to another source, noting that the Tianjin company
had to put off its planned IPO because of the collapse of Lehman Brothers.

Currently, Bain Capital is the second biggest shareholder of GOME Electrical
Appliances Holding Ltd. (SEHK: 0493) with a 32.26% stake.



Source: www.hexun.com (September 23, 2009)



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