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Hillhouse Emerges as Preferred Bidder for $2 Billion King Koil China
Vinicy Chan, Bloomberg News
(Bloomberg) Hillhouse Capital Management has emerged as the preferred bidder for Advent Internationalâs King Koil China mattress business in a deal that could be valued at more than $2 billion, according to people familiar with the matter.
Talks are in an advanced stage and an announcement could come as soon as this week, said the people, who asked not to be identified as the information is private.
Discussions could still be delayed or fall apart, the people added. A representative for Hillhouse couldnât immediately comment, while a representative for Advent didnât immediately respond to requests for comment.