Private equity firms Bain Capital, Permira Advisers, Providence Equity Partners and Macquarie Group are the investors picked to make second-round bids to buy Taiwan-based cable company China Network Systems (CNS), according to the International Financing…
Private equity firms Bain Capital, Permira Advisers, Providence Equity Partners and Macquarie Group are the investors picked to make second-round bids to buy Taiwan-based cable company China Network Systems (CNS), according to the International Financing Review (IFR) cited by Reuters.
Media reports also wrote that bids for CNS, controlled by private equity firm MBK Partners, are coming in around US$2bn. The deadline for submitting second-round bids is 20 September.
If successful, this transaction could be Asia’s largest private equity deal this year, explain the reports. Morgan Stanley is reportedly advising MBK on the sale.
MBK Partners acquired a 60% stake in CNS in July 2007 for US$1.5bn.
CNS and the four private equity firms were not available for comment by press time.
