Carlyle Takes Significant Minority Stake In Singapore-Based Engineering Services Firm Quest Global
Portfolio Pulse from Lekha Gupta
The Carlyle Group Inc (NASDAQ:CG) has agreed to acquire a significant minority stake in Singapore-based engineering services firm Quest Global. The deal will see current investors Bain Capital and Advent International exit, while Quest Global will repurchase its own shares. The transaction is subject to regulatory approvals. Carlyle recently reported Q2 total segment revenues of $977.9 million, beating the consensus of $809.1 million.
August 08, 2023 | 6:05 pm
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Carlyle Group's acquisition of a minority stake in Quest Global could potentially expand its global reach in the ER&D space. However, the company's shares are currently trading down by 3.2%.
The acquisition of a minority stake in Quest Global could potentially expand Carlyle Group's global reach in the ER&D space, which could be beneficial for the company in the long run. However, the company's shares are currently trading down by 3.2%, indicating a negative short-term impact on the stock.
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IMPORTANCE 75
RELEVANCE 100