Private equity firm TA Associates is preparing a potential sale of bubble tea operator Gong Cha, with the process expected to attract interest from several buyout and growth investors, according to a report by Reuters citing unnamed sources familiar with the matter.
The Boston-based investor has mandated JPMorgan Chase to run the auction process, with preliminary indications suggesting a valuation of up to $2bn. Binding bids are expected to be submitted by mid-June, the sources said.
Among the p...
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