Reuters – CVC In Talks to Buy SPi Global

Private equity firm CVC is in exclusive talks to buy a majority stake in SPi Global Holdings, a business outsourcing unit of Philippine Long Distance Telephone Co, for about $320 million including debt, a source familiar with the matter told Reuters. PLDT, Manila's second-most valuable listed company, had put an 80 percent stake in SPi Global on the block last year as it looks to shed non-core businesses. The auction attracted interest from global buyout firms including Bain Capital and Carlyle Group as well as CVC.

DealsNorth AmericaUSBriefs