Deals
Abu Dhabi Fund to Buy 30% of Domestic & General Group
- U.K. warranty provider valued at just over 1 billion pounds
- CVC opts for deal with ADIA over IPO due to market uncertainty
Photographer: SeongJoon Cho/Bloomberg
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Abu Dhabi’s sovereign wealth fund agreed to buy about a 30% stake in Domestic & General Group Ltd., the U.K. appliance warranty provider owned by CVC Capital Partners.
The deal with the Abu Dhabi Investment Authority is expected to close by year-end, Domestic & General said in an emailed statement Wednesday, which confirmed an earlier Bloomberg News report. It didn’t disclose financial terms. The transaction values Domestic & General, which is used by one-third of U.K. households, at just over 1 billion pounds ($1.25 billion), people with knowledge of the matter said.