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CVC exploring options for funeral provider Nirvana: source

Reuters Published on Thu, Dec 20, 2018 / 7:41 AM GMT+8

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(Dec 20): Private equity firm CVC Capital Partners is exploring options for Asia’s largest funeral services provider Nirvana Asia Ltd, including a possible sale, and a deal could be worth more than US$1.8 billion, a source familiar with the matter told Reuters.

The talks are still in early stages and there has been strong interest from a number of parties, including infrastructure investors, sovereign wealth funds and private equity, the source said on condition of anonymity as the information is confidential.

CVC bought Kuala Lumpur, Malaysia-based Nirvana for US$1.1 billion in 2016, betting on increased demand for luxury funerals in the region.