CVC selects banks to help in sale of Indonesia’s LinkNet

3 Jul 2014

Reuters reports that private equity firm CVC Capital Partners Asia Pacific has selected Credit Suisse, Deutsche Bank and Goldman Sachs to conduct the planned sale of shares in Indonesian internet service provider (ISP) PT LinkNet, which could raise around USD500 million, according to people familiar with the situation. CVC holds a 49% stake in LinkNet – having upped its original 33.94% holding on 2 June this year – with 41% now controlled by First Media, the media arm of Indonesian conglomerate Lippo Group, and the remaining 10% in public hands. The share sale is reported to be CVC’s biggest in the country since March 2013 when, along with PT Multipolar, it raised USD1.3 billion through the sale of domestic retailer PT Matahari Department Store.

Indonesia, LinkNet (First Media)