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Exclusive-Investor Warburg cuts Ant valuation by 15% to below $200 billion – source
HONG KONG (Reuters) -Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with direct knowledge of the matter said. There are also no signs that Ant’s botched mega IPO will be revived anytime soon, sources familiar with the matter said. U.S. private equity firm Warburg, which was a big investor in Ant’s 2018 private fundraising, lowered the company’s valuation to $191 billion at end-September from the $224 billion at end-June, the first source told Reuters.