CVC in exclusivity for stake in Premiership Rugby

The deal would see CVC pay more than £200m for a minority stake, according to numerous media reports, with a final offer due to be voted on at a board meeting on 11 December.

A report in the Times stated that the exclusivity period is due to lapse on 30 November, though CVC might look to extend the period, with both parties close to a deal and currently undertaking due diligence.

The development comes two weeks after reports that General Atlantic had submitted a bid for the league. At the time, the Financial Times reported both GPs had competed against Cinven and that a £275m bid by CVC had been rejected. According to the latest report by the Times, CVC's £275m bid was for a 51% stake.

CVC has a track record of investing in high-profile professional sport organisations, having been part of a consortium that sold motorsport business Formula One Group to US corporate Liberty Media for $8bn in 2016.

Unquote was unable to reach spokespeople from CVC and Premiership Rugby at the time of publication.

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• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• CVC Capital Partners
• Cinven
• General Atlantic