CVC Pays Bain, Clessidra $1.5B For Italian Credit Firm

Law360, New York (January 2, 2013, 5:01 PM EST) -- U.K. private equity firm CVC Capital Partners has agreed to buy Italian business credit services provider Cerved Group SpA from PE giant Bain Capital LLC and Clessidra SGR SpA for €1.13 billion ($1.49 billion), CVC announced Wednesday.

Milan-based Cerved was created through the integration of seven credit companies between 2008 and 2011. The firm provides credit and business information to more than 30,000 European clients, including 90 percent of Italy's banks and more than 80 percent of the country's 1,000 largest companies.

The company reported 2012 revenues...
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