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Report: CVC Capital evaluates potential sale for Nirvana Asia

CVC Capital Partners Ltd. is considering selling Nirvana Asia Ltd. for more than $1.8 billion, as it evaluates options for the Asia-based funeral services company, Reuters reported, citing a person close to the matter.

Nirvana has received strong takeover interest from infrastructure investors, sovereign wealth funds and other private equity firms, the source said, adding that discussions are in early stages.

The Wall Street Journal earlier reported, citing people with knowledge of the matter, that a deal could be valued at between $1.5 billion and $2 billion.

The London-based investment firm purchased Nirvana for $1.1 billion in 2016, Reuters noted.

Reuters reported that CVC declined to comment on the matter and Nirvana was not immediately available for comment.