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Private Equity's Poker Face Yields a Jaw-Dropping Payout

Private Equity's Poker Face Yields a Jaw-Dropping Payout

Private equity has hit the jackpot with a deal to sell Sky Betting & Gaming to Canada's Stars Group Inc. for $4.7 billion. CVC Capital Partners bought an 80 percent stake in the business from its founder, U.K. satellite broadcaster Sky Plc, in 2015. CVC recouped its approximate 300 million pound starting equity investment via a dividend last year.