CVC Cashes in from $1.3B Offering of Marahari Shares

CVC Capital Partners and PT Multipolar Tbk raised around $1.3 billion by selling part of their stake in Indonesian retail giant PT Matahari Department Store, Reuters wrote. London-based CVC, which bought a 60 percent stake in Matahari in 2010, is on course to make a return of between seven and eight times its initial investment if it eventually exits its entire stake at the current valuation, according to Reuters calculations. By private equity standards, making two times cash paid is considered a success.

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