CVC Capital Partners Ltd
CVC Capital Partners Ltd | Private Equity Tracker Tool
UK-based CVC Capital Partners is one of the largest private equity firms managing at least $46 billion in assets across several funds. The firm is located in Luxembourg with 19 offices in other cities across the world. The following is part of our on-going effort to follow the news through our Private Equity Tracker Tool.Story #1: CVC Capital Partners Gives Up Stake in Japanese Restaurant Chain
UK Private equity firm CVC Capital Partners said it had given up a holding in Japanese restaurant chain Skylark Co, its biggest investment in the country, as the restaurant chain has posted losses for three consecutive years.
CVC Capital has agreed to give its holding in Skylark to Chuo Mitsui Capital Co, a private equity fund owned by Chuo Mitsui Trust Holdings (8309.T), in return for not having to pay back loans made to purchase the stake, a Tokyo-based spokesman for the buyout fund said.
CVC Capital and the private equity unit of Nomura Holdings Inc (8604.T), Japan's biggest brokerage, helped take the family-oriented restaurant operator private in 2006 through a management buyout -- at the time a rarity here. Source
Story #2: CVC Succeeds in Raising Capital during Recession
A brief story of optimism in the private equity market is that of CVC Capital Partners. The private equity firm is noted in the Wall Street Journal for its ability to raise capital while many private equity firms are struggling.
For CVC Capital Partners, finding private investors is not easy but not impossible. Despite the economic hurdles that make fundraising so difficult lately, the European-based firm managed to pull in more than $14 billion in its latest round of raising capital. The most impressive part of CVC's success in raising investments for the sizable fund, its fifth, is that all the capital was raised in less than a year--after the biggest financial troubles emerged.
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Story #3: CVC Capital is Bidding for Units of Anheuser
Private-equity firm CVC Capital Partners submitted a $2.3 billion bid to buy part of Anheuser-Busch InBev NV's operations in Europe, but other suitors remain interested and the auction continues, according to a person familiar with the process.
London-based CVC met Monday's deadline for initial bids for the beer titan's operations in the Czech Republic, Hungary and other parts of Central and Eastern Europe. Other companies continue to express interest, but it is unclear whether they have submitted formal bids, the person said.
Anheuser initiated the auction, which is being run by Barclays PLC, after it received an unsolicited approach from CVC last month. The sale initially attracted a number of private-equity firms and industry buyers, including U.S. buyout firms TPG and Kohlberg Kravis Roberts.
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