CVC Explores Sale of Australian Magazine Publisher ACP, FT Says
By Sarah Shannon -
2012-02-11T10:49:15Z
CVC Capital Partners Ltd. is exploring a sale of ACP, Australia’s biggest magazine publisher, in a bid to restructure the debt of its parent company Nine Entertainment Co., the Financial Times reported, citing people with knowledge of the process.
A Goldman Sachs fund that funded the majority of its debt is working with CVC to find possible buyers that might include Hearst Corp, the U.S. publisher of Elle magazine, the newspaper said.
CVC, which owns 99 percent of Nine, declined to comment on a possible sale, the FT reported.
To contact the reporter on this story: Sarah Shannon in London at sshannon4@bloomberg.net
To contact the editor responsible for this story: Dick Schumacher at dschumacher@bloomberg.net
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