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China’s Road King, CVC Weigh Options for $1 Billion Toll Unit

  • Chinese firm and CVC mulling IPO or sale of PE firm’s stake
  • Stake sale could draw interest from other buyout, infra funds

Road King Infrastructure Ltd. and CVC Capital Partners are considering options for a toll road business that could be valued at about $1 billion in a potential transaction, according to people familiar with the matter.

The companies are working with a financial adviser on a strategic review that could involve a potential initial public offering for Road King Expressway International Holdings Ltd., the people said, asking not to be identified because the matter is private. An IPO could take place in Hong Kong or Singapore, one of the people said.