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CVC Capital, RBS collect $528m from Samsonite exit

25 Mar 2013

exit sign_sqPrivate equity firm CVC Capital Partners and state-backed banking group RBS have reportedly exited their stakes in Luxembourg-based suitcase maker Samsonite for a total $528m.

CVC and RBS sold 212.5m shares – 65 per cent of which were held by CVC – for HK19.28 ($2.48) per share according to a term sheet seen by Reuters.

Samsonite floated on the Hong Kong Stock Exchange in 2011 in a $1.25bn IPO which saw CVC and RBS raise a total of $821m.

CVC is currently believed to be in talks with investors about its next buyout fund, which could target as much as €11bn ($14.25bn).

Earlier this month it emerged CVC was on course to make between seven and eight times its initial investment in Indonesia’s Matahari Department Store after selling part of its stake alongside Multipolar for $1.3bn.

Other reports said the firm had been approached by Gulf sovereign wealth giant the Qatar Investment Authority to take part in an £8bn buyout of British retailer Marks & Spencer.

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