Betfair sees growth prospects in Italy, United States – Reuters

Online gambling company Betfair said it was looking to grow its business in Italy and the United States after having pulled out of a number of countries because of unfavourable regulations and tax rates, writes Reuters. Betfair has been forced to defend its strategy after rejecting a 1 billion pound ($1.5 billion) takeover by private equity firm CVC Capital Partners in May.

Reuters – CVC Raises Over 10 Billion Euro for Fund VI

Private equity group CVC Capital Partners has raised 10.5 billion euros ($13.8 billion) for its latest buyout fund to make investments in Europe and North America, writes Reuters. CVC started fundraising in January for Fund VI with a 9 billion euro target, and a cap of 10.5 billion euros which it could not exceed without consent from existing fund investors.

Reuters – Charterhouse Considers IPO for French Caterer Elior

British private equity firm Charterhouse Capital Partners is considering taking French caterer Elior public this year, after it received bids that fell short of its asking price of 4 billion euros ($5.2 billion), the Financial Times reported, writes Reuters. Bids that fell short included a joint offer from fund managers BC Partners and CVC Capital Partners which valued Elior at 3.5 billion euros, writes Reuters.

Reuters – CVC Launches bpost IPO

Private equity group CVC Capital Partners will sell at least 23.5 percent of its stake in Belgian postal operator bpost at between 12.5 and 15 euros per share, writes Reuters. CVC owns 50 percent minus one share in bpost, while the Belgian state holds the rest.

Reuters – Betfair Lifts Profit Forecast to Put Off CVC

Online gambling company Betfair raised its profit forecast and cost savings target on Tuesday, making its case for independence as it tries to stave off a $1.4 billion takeover by private equity firm CVC Capital Partners, writes Reuters. Betfair last month rejected a potential offer of 880 pence per share from CVC, saying the price was too low and had too many strings attached, writes Reuters.

Reuters – Gambling Firm Betfair Rejects CVC-led Takeover Bid

Online gambling company Betfair has rejected a $1.4 billion takeover offer from private equity firm CVC Capital Partners and other investors, writes Reuters. Betfair said it had received a preliminary proposal on Friday from CVC, Richard Koch, Antony Ball and partners offering 880 pence per share in cash or an unlisted securities alternative made up of shares and loan notes in a new entity, writes Reuters.

Reuters – CVC Mulls Betfair Takeover Bid

CVC Capital Partners is in talks about making a takeover offer for the British online gambling firm Betfair, writes Reuters. CVC said it had held preliminary discussions with investors Richard Koch, Antony Ball and other partners about Betfair, which could include an offer for the firm by funds advised by CVC together with the two men and partners.

Reuters – PE Revives Interest in EE Buyout

Private equity firms are reviving plans for a potential 10 billion pound ($15.7 billion) buyout of the UK’s biggest mobile operator EE, encouraged by recent deals like Virgin Media and Dell, writes Reuters. Big buyout companies including US-based KKR and Europe’s CVC Capital Partners are trying again to persuade banks to help fund a deal they have been unable to get off the ground for the past year, writes Reuters.

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