CLSA Capital Partners may sell Everlife as secondary transaction
CLSA Capital Partners, the alternative asset management arm of CLSA Asia-Pacific Markets, reportedly plans to exit its Japanese portfolio company, food and supplement maker Everlife, in a deal worth as much as JPY70 billion ($839 million).
CLSA declined to comment to AVCJ on the reports. The original report from Reuters noted that the private equity arm has appointed Bank of America Merrill Lynch as financial advisor.
CLSA Capital Partners had previously planned to divest from Tokyo-listed Everlife, and Daiwa Securities Capital Markets, the investment unit of Daiwa Securities Group Inc, was hired as an underwriter. However, the firm appears to have changed tactics on the divestment to favor a trade sale or secondary sale to private equity funds. CLSA Capital Partners made an initial investment in Everlife in 2006, and with additional acquisitions of company equity, increased its holding to up 90%.
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