Reuters – CVC Picks Banks for Matahari Sale

Private equity firm CVC Partners has hired CIMB, Morgan Stanley and UBS to sell a stake in Indonesian group PT Matahari Department Store, sources told Reuters. CVC is looking at a deal that would value the whole company at more than $2 billion, having paid less than half that 2-1/2 years ago, one of two sources with direct knowledge of the matter told Reuters on Tuesday.

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