Structured finance
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.
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 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...
TPG faces a challenge in Li Ning
TPG Capital worked its magic on women’s shoe retailer Daphne three years ago, but can it do the same for beleaguered Chinese sportswear chain Li Ning? Investors clearly hoped as much, with the Hong Kong-listed company’s stock rising 20% in response...
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.
GE boosts CHAMP-backed Accolade with $234m loan
European lender GE Capital has provided Australia’s Accolade Wines, owned by CHAMP Private Equity, with a GBP150 million ($234 million) cross-border financing facility.
Lenders ‘will reject debt plan’ for CVC-backed Nine
CVC Asia Pacific's proposed debt restructuring plan for its portfolio company Nine Entertainment is expected to be rejected, following talks between the private equity firm and lenders on Friday.
Indian authorities reverse decision on options
The Indian government has backtracked on a month-old order on foreign direct investment (FDI) transactions that threatened private equity exits by limiting the use of put and call options.
Asia buyouts struggle as banks clamp down on lending
Buyout deals in Asia are becoming more difficult as banks hold back on lending. Rising capital costs have made lenders wary of the risks tied to mispricing a loan, leaving private equity firms to increase the cash portion of buyouts.
Coffee Day subsidiary Way2Wealth gets $30m from KKR
Indian boutique financial services firm Way2Wealth will receive $30 million from KKR in what is expected to be a structured financing deal rather than a typical private equity placement.