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CVC Capital nets $216m through Matas share sale

10 Jan 2014

cosmetic makeup beautyPrivate equity major CVC Capital Partners has made $216m by selling a 19.4 per cent stake in Danish beauty retailer Matas, which listed on the Copenhagen Stock Exchange last summer.

CVC bought a 66 per cent stake in Matas in a DKK5.2bn ($947m) deal in 2007. The sale price was 30 per cent higher than the company’s IPO price.

Carnegie, Morgan Stanley and Nordea were bookrunners for the share sale.

Matas, which sells branded and own-brand beauty products, had a turnover of about $537m in the 2011/12 financial year.

Last month London-headquartered CVC reportedly held a first close for its fourth Asian fund.

The vehicle has raised $2bn towards its $3.5bn target, said the Financial News, citing people familiar with the matter.

CVC Capital Partners Asia Pacific IV follows the firm’s third Asian vehicle, which raised $4.1bn in 2008.

Last summer CVC closed its latest flagship private equity vehicle on its €10.5bn hard cap after only six months on the road.

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