PE Deals

KKR, CVC Team Up for Interactive Data

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NEW YORK/LONDON (Reuters) – Private equity firms Kohlberg Kravis Roberts & Co (KKR.AS) and CVC have teamed up to bid for Interactive Data Corp (IDC.N), yet another private equity team formed in recent weeks as an auction for the financial market data provider progresses, two sources familiar with the matter said.

Interactive Data said in January it was reviewing its strategic options, which prompted interest from a number of private equity firms.

Sources previously told Reuters that other teams that paired up include Advent International with Bain Capital; and Hellman & Friedman with Silver Lake Partners.

McGraw-Hill Cos Inc (MHP.N), which owns the Standard & Poor’s ratings unit, is still in the process, one source said. It is unclear how much interest there is from other strategic bidders at this point.

A deadline for the next round of bids has not yet been set, but could come in mid-April, the source said.

Publishing group Pearson PLC (PSON.L), which owns the Financial Times newspaper as well as the world’s biggest educational publishing business and Penguin Books, has a 61 percent stake in Interactive Data.

KKR, CVC, Bain, Pearson and IDC declined comment. H&F, Silver Lake and Advent could not be reached for comment. (Reporting by Megan Davies and Jui Chakravorty in New York and Victoria Howley in London; Editing by Gary Hill, Bernard Orr)