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CVC hires three banks for share sale in Indonesian internet firm

Reuters - UK Focus

JAKARTA/SINGAPORE, July 2 (Reuters) - Private equity firm CVC Capital Partners has hired Credit Suisse (NYSE: CS - news) , Deutsche Bank (NYSE: DB-RI - news) and Goldman Sachs (NYSE: GS-PB - news) to handle a share sale in Indonesian internet service provider PT Link Net Tbk, which could raise at least $500 million, people familiar with the matter said.

CVC (Taiwan OTC: 4744.TWO - news) owned 49 percent of Link Net as of June 2 through Asia Link Dewa Pte Ltd, according to Thomson Reuters data. PT First Media Tbk, the media arm of Indonesian conglomerate Lippo Group, held 41 percent and the remaining 10 percent is in public hands.

This would be CVC's biggest share sale in Indonesia since March 2013 when the private equity firm and PT Multipolar Tbk raised around $1.3 billion by selling part of their stake in Indonesian retail giant PT Matahari Department Store.

The Wall Street Journal had reported the mandates earlier.

CVC was not immediately available to comment. Spokespeople for Credit Suisse, Deutsche and Goldman declined to comment. (Reporting by Eveline Danubrata and Saeed Azhar; Editing by Christopher Cushing)