Permira sends capital call for NDS acquisition

Permira has sent out capital call letters to investors in order to raise $917.8m for its proposed take-private of Nasdaq-listed UK security business NDS, reports suggest. NDS creates security and enabling technologies which allow pay-TV operators to generate revenues by delivering digital content to TVs, set-top boxes, computers and mobile phones. Last June, Permira agreed to acquire a 51% stake of the business, with current majority owner News Corp reducing its holding from 72% to 49%.

The letters come after Permira agreed in December to allow 18 of its investors to reduce their commitments to its EUR11.1bn fund, shrinking it to EUR9.6bn.

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