Private equity investor Carlyle Group plans to sell its its investment in Saudi Arabia's General Lighting Co through an initial public share offer in Riyadh in 2013 and is now close to doing its second deal in the kingdom, sources familiar with the matter said.Carlyle bought 30% of General Lighting in March 2010, making it an 18 month hold before leaking IPO plans. It's the age of monetization for private equity underwriters (PEUs).
Carlyle Group is "on the cusp of acquiring a 42-percent stake in a family-owned Saudi food products company within the next two weeks." That would beat their "end of the year" promise.
Update 3-18-14: The 2013 IPO for General Lighting turned into a 2014 sale to Philips.
