Advent Pays Breakup Fees as EQT’s $1.1 Billion Sale of China’s Ginko Fails

Private equity firm Advent has paid breakup fees after a planned $1.1 billion deal to buy a contact-lens maker from EQT AB fell through near the finish line, according to people familiar with the matter.

Advent and EQT were in talks over the mainland China operations of Ginko International Co., but Advent went quiet in the summer in the last stages of completion and subsequently paid termination fees of about $10 million, the people said, asking not to be identified because the discussions were private.