Reuters - CVC’s Australia Head Resigns

The head of CVC Capital Partners' Australian unit has resigned, as the company stares at losses of up to $1.8 billion from its Nine Entertainment buy, dealing a blow to the private equity firm's plans to bed down with the world's elite, Reuters reported Thursday. The departure of Adrian MacKenzie, a key player in the A$5.3 billion ($5.6 billion) debt-funded acquisition of Nine and 17-year veteran at CVC, means the television network could fall into the hands of its lenders while wiping out CVC's equity.

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