CVC Capital Partners Buys Skrill Group For Fourth European Takeover

CVC Capital Partners announced its agreement to buy online payment company Skrill in the UK for €600 million, including debt, reported The Financial Times. The agreement will allow the seller and private equity firm Investcorp to gain an increased return that is eight times worth the initial investment. This deal represents CVC's fourth European takeover in 2013.

Peter Rutland, senior managing director of CVC Capital Partners, said to The Financial Times, "Skrill is a high-quality business that has demonstrated its ability to grow rapidly into a market leading provider of online payments serving the online gaming, gambling, digital media and e-commerce industries."

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