Cerberus Sells Off Asian Job Staffing Cos. To CVC

Law360, New York (March 29, 2012, 1:50 PM EDT) -- A fund managed by buyout firm Cerberus Capital Management LP has agreed to sell the Asian operations of an employment agency to the current management team, which is being backed by private equity firm CVC Capital Partners LP, Cerberus announced Wednesday.

Five companies in the human resources and contracting service industry, located in Japan and China, are being sold to Technopro HD, a holding company established by CVC Asia Pacific, according to Cerberus. The assets were part of Prompt Holdings, a global firm that was was...
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