Clifford Chance, Kirkland and Sullivan & Cromwell advise on CVC $1.1bn investment
Private equity house CVC has offered $1.1bn for Kuala Lumpur-based funeral company Nirvana Asia
July 11, 2016 at 06:12 AM
2 minute read
By Beverly & Pack on Flickr
Clifford Chance, Sullivan & Cromwell and Kirkland & Ellis are advising on CVC Capital Partners' $1.1bn (£854m) privatisation of Hong Kong-listed funeral company Nirvana Asia.
Kuala Lumpur-based Nirvana Asia is reportedly the largest integrated funeral and bereavement care provider in Asia, with operations in six countries across the continent, including Indonesia and Singapore.
The magic circle firm is advising CVC on the privatisation, with a team led by Hong Kong corporate partners Andrew Whan and Neeraj Budhwani. Banking and finance partner Matthew Truman is advising on the finance aspects of the deal.
The firm's teams worked across Clifford Chance's offices in Bangkok, China and Singapore as well using its associated firm in Indonesia, Linda Widyati and Partners.
Last year, Clifford Chance advised CVC on the investment firm's partnership with Singapore wealth fund GIC. London corporate partner David Pearson headed the team on that deal.
Sullivan & Cromwell is advising Nirvana Asia on the deal.
Following the proposed transaction, the founder and CEO of Nirvana Asia, Tan Sri Kong, and CVC will be the two largest shareholders in Nirvana Asia.
Kirkland & Ellis is advising CVC's financial adviser JP Morgan on the transaction.
The Kirkland team is led by Hong Kong corporate partners Nicholas Norris and Joey Chau, and debt finance partner David Irvine.
CVC has offered HK$3 a share to take the company, which is primarily focused on Malaysia, private.
The deal is subject to Nirvana Asia's shareholders' approval.
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