JAKARTA (Yosefardi) – CVC Capital Partners will reportedly in near future divest shares of PT Link Net Tbk (LINK), controlled by Lippo Group, with divestment value expected for US$500 million.
CVC has appointed Credit Suisse Group AG, Deutsche Bank AG, and Goldman Sachs Group Inc to facilitate the divestment.
CVC, through Asia Link Dewa Pte Ltd, holds LINK shares. CVC invested US$275 million in Link Net in 2011 and now holds 49% LINK shares.
Link Net has total assets of Rp3.23 trillion and equity of Rp2.52 trillion as at December 31, 2013. It booked net profit of Rp362 billion in 2013 on revenues of Rp1.66 trillion.
In 2012, it booked net profit of Rp339 billion and revenues of Rp1.3 trillion. Its liability totaled Rp706 billion as at December 2013.