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CHAMP Private Equity hires Goldman to sell Blue Star

23 Jul 2012

Australian buyout house CHAMP Private Equity has hired Goldman Sachs New Zealand to handle the sale of portfolio company Blue Star, the communication services business.

Blue Star, which offers services including printing, warehousing and logistics, was bought by CHAMP in 2006 in a deal that valued the company at around NZ$385m ($300m), the Wall Street Journal reported.

July has been a busy month for CHAMP, which last week tabled an A$186m ($192m) cash offer to take Australia’s Gerard Lighting Group private.

The offer has received the unanimous approval of board members including the Gerard family.

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