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Buyout firm Leonard Green to buy CPA Global for 2.4 bln pounds -FT
August 28, 2017 / 11:46 PM / 3 months ago

Buyout firm Leonard Green to buy CPA Global for 2.4 bln pounds -FT

Aug 28 (Reuters) - U.S. buyout firm Leonard Green & Partner has agreed to buy intellectual property services provider CPA Global for 2.4 billion pounds ($3.10 billion) including debt, the Financial Times reported on Tuesday.

An announcement on the transaction is expected later on Tuesday, the Financial Times said, citing people close to the negotiations. (on.ft.com/2wEGtO4)

Reuters reported in July that CPA’s owner Cinven had decided to sell the business, hiring Goldman Sachs and JP Morgan as advisers and the business could fetch up to 2 billion pounds.

Cinven acquired CPA Global in 2012 from Intermediate Capital Group and the founder shareholders for around 950 million pounds, backed with 555 million pounds of debt financing.

Leonard Green & Partner, CPA Global and Cinven were not immediately available for comment.

$1 = 0.7738 pounds Reporting by Parikshit Mishra in Bengaluru; Editing by Richard Chang

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