CVC Capital Partners
CVC sells $1.6b stake in Formula One ahead of Singapore IPO
CVC Capital has sold a $1.6 billion stake in Formula One Group to BlackRock, Waddell & Reed and Norges Bank Investment Management ahead of its planned IPO in Singapore.
Archer, CHAMP among bidders for CVC’s Mantra - report
Archer Capital and CHAMP Private Equity are reportedly among the PE firms bidding for Australia’s Mantra Group, which CVC Asia Pacific put up for auction in March.
CVC seizes rare chance to buy HK telecom asset
Private equity mega-deals are a comparative rarity in Hong Kong. Discount pre-IPO investments in large Chinese state-owned enterprises and one is left with a number of significant minority transactions and barely a handful of buyouts. Until last week,...
Wolseley-backed Nextmedia acquires magazines from CVC's ACP
Nextmedia, the Australian magazine publisher owned by Wolseley Private Equity, has acquired two publications from ACP Magazines, the magazine division of CVC Asia Pacific-backed Nine Entertainment.
CVC plans $2b Formula One IPO in Singapore - report
CVC Capital Partners is heading towards a $2 billion initial public offering (IPO) for Formula One Group in Singapore. The private equity firm may sell a 20% stake in the motor racing series and complete the sale as early as June.
CVC supports MBO of Japanese staffing agency
CVC has backed a management buyout of the Japanese operations of Prompt Holdings, an employment agency formerly known as Advantage Resourcing, for an undisclosed sum. The buyout facilitates the exit of US private equity firm Cerberus Capital Management,...
NAB offloads debt in CVC-backed Nine Entertainment
National Australia Bank (NAB) has sold off its entire holding of debt in CVC-backed Nine Entertainment. The bank offloaded A$86 million ($90 million), with media reports quoting a price of A$0.85-087 on the dollar.
Indonesia investment: Uncharted territory
For all its attractions, Indonesia remains a difficult – and expensive – market for foreign private equity firms. Identifying value rests on building up local knowledge and expertise
CVC’s Mantra on the block
Private equity house CVC Asia Pacific has put its 40% stake in Australian accommodation provider Mantra Group up for auction.
CVC plans to sell Nine ticketing arm
CVC Asia Pacific is seeking buyers for Nine Entertainment's ticketing arm in order to generate funds that will be used to restructure the media group’s A$2.7 billion ($2.9 billion) in senior debt, which is due for repayment next February.
Japan’s Asahi favorite to buy StarBev from CVC – report
Asahi has reportedly emerged as the frontrunner to buy east European brewer StarBev from CVC Capital Partners in a deal worth up to $3 billion. It is another indication of Japanese corporates’ interest in expanding overseas, offering an exit opportunity...
CVC cuts price for Nine’s magazine division – report
CVC Asia Pacific is reportedly willing to listen to offers of as little as A$300 million ($323 million) – or 3x earnings – for Nine Entertainment’s magazine division after receiving little interest from prospective buyers. The sale of ACP Magazines...
CVC-backed Cellnet on hunt for tech bolt-ons - report
Private equity firm CVC has reportedly begun searching for tech start-ups to bolt on to its Australian mobile accessories distributor, Cellnet.
CVC-backed Nine in talks to sell magazine business – reports
CVC Capital Partners-owned Nine Entertainment has held talks with Seven West Media over the potential sale of its ACP magazines division. The funds raised would help pay down some of the beleaguered company’s A$2.7 billion ($2.8 billion) in senior debt...
Nine Entertainment’s creditors draw up plan to push out CVC
Creditors of Australia’s Nine Entertainment have put together a proposal to convert their debt to equity which would wipe out the majority of current owner CVC Capital Partners’ interest in the firm. Hedge funds Oaktree Capital and Apollo Global Management...
Board rejects rival bid for Malaysia’s QSR
Palm oil producer Kulim Malaysia has rejected an offer for its stake in fast food company QSR Brands. Dewan Perniagaan Melayu Malaysia (DPMM) offered to pay MYR6.90 per share for Kulim’s holding, slightly higher than a rival bid by CVC Capital Partners...
CVC, Johor win board backing for Malaysian fast-food buyout
A takeover offer from CVC Capital Partners and Malaysian state investment arm Johor Corp. for fast-food chains QSR Brands and KFC Holdings has won approval from the companies’ respective boards. The consortium must now put their bid before shareholders,...
MediaWorks is latest Oz debt-to-equity target
The phenomenon is known as “loan to own.” Investors buy up companies’ debt on the secondary market and negotiate with the boards to secure what are in effect controlling positions.
Arctic-backed Living & Leisure receives $244m takeover bid
Living & Leisure Australia Group (LLA), the tourist attractions operator part-owned by Arctic Capital, has received a A$244 million ($244 million) takeover bid from private equity-backed Merlin Entertainments.
CVC, hedge funds exchange barbs over Nine debt
Negotiations over CVC-owned Nine Entertainment’s debt burden have descended into a war of words between the company and its hedge fund creditors. CVC stands accused of playing a “precarious game” by insisting it is under no pressure to restructure...
CVC’s second Asia fund sees value drop by 10%
CVC Asia Pacific’s second regional fund, which closed in 2005 at $1.975 billion, has reportedly lost 10% of its investment value due to failing portfolio companies such as Australian television network Nine Entertainment.
CVC, state-owned fund make $1.65b bid for QSR in Malaysia
CVC Capital Partners and Johor Corp., the investment unit of the Malaysian state of Johor, have placed an RM5.24 billion ($1.65 billion) bid for QSR, the holder of fast food chains KFC, Pizza Hut and QSR Brands.
CVC said to offer Nine's creditors second refinancing plan
CVC Asia Pacific has reportedly offered creditors another refinancing plan for the A$2.6 billion ($2.7 billion) of debt held by its Australian portfolio company, Nine Entertainment, coming after lenders rejected CVC’s proposal of granting the firm a...
Nine's creditors reject debt restructure plan
The creditors of Australian media group Nine Entertainment have rejected a proposal to restructure the company’s A$2.6 billion ($2.59 billion) of senior debt, potentially jamming Nine’s private equity owner, CVC Asia Pacific, with nearly $2 billion...