CHAMP PE seeks exit from New Zealand’s Blue Star
CHAMP Private Equity-owned Blue Star has suspended trading on the New Zealand Stock Exchange in anticipation of an announcement that the business is up for sale. It comes after the struggling communications company said in June that it had won the support of senior lenders to review a whole or partial sale.
A company spokesperson confirmed to Reuters that Goldman Sachs has been appointed to manage the process. CHAMP acquired an 84% stake in Blue Star for NZ$385 million ($308 million) in 2006. In March 2011,...
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