Private equity firm CVC Capital Partners and Royal Bank of Scotland sold a combined $ 290 million stake in Hong Kong-listed luggage maker Samsonite International, a term sheet seen by Reuters showed.

The 138.3 million shares were sold at HK$ 16.20 each, a 4.9 per cent discount to Samsonite’s Friday’s close of HK$ 17.04, the terms showed. That would put the total deal at HK$ 2.24 billion, with about 65 per cent of the shares sold by CVC and the remainder by RBS.