CVC Reaches £750M Deal To Scoop Up UK Appliance Insurer

Law360, New York (August 13, 2013, 1:44 PM EDT) -- New York private equity firm Advent International will sell U.K. appliance insurer Domestic & General to CVC Capital Partners in a move that reportedly values D&G at £750 million ($1.2 billion).

Advent's efforts to shed D&G began earlier this year after it hired Goldman Sachs & Co. to oversee a possible sale. The firm mulled refinancing as an alternative after some bidders backed down, but news emerged earlier this month that CVC might be a successful suitor. 

The deal, announced Tuesday, shifts ownership of D&G to...
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