Stella’s failed recap set for boost after CVC takes majority holding

07 Feb 2008

The struggling A$1.1bn leveraged loan for Australian travel agency and hotel operator Stella Group got a boost this week when CVC Capital Partners, one of the most active private equity firms in Asia, bought a majority stake in the company.

Bankers said that property and investment company MFS Pacific Finance’s decision to sell 65% of Stella would make the UBS-led loan more attractive in syndication.

The A$1.1bn Stella recapitalisation was launched into syndication last August but failed. EuroWeek understands that no lenders have bought into the deal, despite ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.