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Report: CVC Capital Partners in talks to sell UK's Domestic & General for £1.25B

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Report: CVC Capital Partners in talks to sell UK's Domestic & General for £1.25B

CVC Capital Partners Ltd. is in discussions with rival buyout firms about a sale of its subsidiary, Domestic & General Group Ltd., for £1.25 billion, Sky News reported.

Sources in the City of London said the company and its advisers, Bank of America Merrill Lynch and Credit Suisse, had held talks with prospective buyers including Centerbridge Partners LP, Warburg Pincus LLC and Apax Partners LLP.

CVC Capital Partners is also reportedly eyeing a potential stock market listing of the warranty provider. Sources said it had considered launching the flotation as early as the end of June, although such a timetable would likely be scuppered should the impending Conservative Party leadership contest lead to any market disruption.