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Clairvest looks to sell online payments business Kubra

16 May 2014

credit card paymentPrivate equity firm Clairvest is reportedly looking to exit its stake in Canadian online payment processor Kubra.

First round bids for Kubra are due in June and the company, which has an EBITDA of $30m, could be valued at $500m in a deal, said PeHUB, citing five sources.

Clairvest invested C$13 in Kubra and currently holds a 35 per cent stake. The firm received an $11.6m dividend from the company in 2012.

The firm recently hit a first close of $518m for its fifth fund, which was launched with a $500m target.

Clairvest committed $180m to the fund and raised the remaining $338m from LPs.

Earlier in 2014 AltAssets reported that Clairvest was back in the fundraising market and had raised C$300m.

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