Avista Capital Partners eyes InvestorPlace exit


stocks2_lrgPrivate equity firm Avista Capital Partners is reportedly looking to exit investment and financial news service InvestorPlace.

The firm has hired Berkery Noyes to handle the sale, said PeHUB, citing four sources. The peopel did not specify how much the firm was looking to sell the company for.

Avista backed the website, which was at that time was known as Phillips Investment Resources, in 2007.

Last October Avista and fellow private euqity firm Nordic Capital agreed to buy all outstanding shares of Swiss-based pharmaceutical company Acino Holding for CHF398m (€325m), or CHF115 per share.

The price represented a premium of 53 per cent to the volume weighted average price during the last 60 trading days prior to the offer.

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