CVC hires three banks for share sale in Indonesian internet firm
Published on Jul 2, 2014 1:25 PM
JAKARTA/SINGAPORE (Reuters) - Private equity firm CVC Capital Partners has hired Credit Suisse, Deutsche Bank and Goldman Sachs to handle a share sale in Indonesian internet service provider PT Link Net Tbk, which could raise at least US$500 million, people familiar with the matter said.
CVC owned 49 per cent of Link Net as of June 2 through Asia Link Dewa, according to Thomson Reuters data. PT First Media Tbk, the media arm of Indonesian conglomerate Lippo Group, held 41 per cent and the remaining 10 per cent is in public hands.
This would be CVC's biggest share sale in Indonesia since March 2013 when the private equity firm and PT Multipolar Tbk raised around US$1.3 billion by selling part of their stake in Indonesian retail giant PT Matahari Department Store.
The Wall Street Journal had reported the mandates earlier.
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