CVC Capital Partners

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,...

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 would...

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...

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.

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 the...

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 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 two-and-a-half-year...

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 in...

CVC sells Minit to Unison Capital

CVC Capital Asia has succeeded in exiting shoe repair chain Minit Asia Pacific to Tokyo-based Unison Capital, reportedly after two failed attempts to sell the company.

Asian IPO best Formula One exit for CVC - Ecclestone

CVC Capital Partners-owned Formula One Group, which owns the motor sport’s commercial rights, would list in Hong Kong or Singapore if a decision was made to take it public, according to CEO Bernie Ecclestone.