CVC reaches Nirvana with take-private

Nirvana Asia is about to delist for the second time. But despite getting no premium to the IPO price, investors are overwhelmingly in favour.

Nirvana Asia, a Malaysian funeral services company listed in Hong Kong, is about to finish a $1.1 billion privatisation, marking the second time the company has delisted from an Asian exchange.

CVC Capital, the private equity firm, is taking the company private through Asia Memorial Group, a company it controls. Asia Memorial and Nirvana made a joint announcement about the delisting on Thursday, telling investors it had been approved by an extraordinary general meeting EGM as well as by the Hong Kong stock exchange.

The deal makes Nirvana just the latest foreign company to delist from the Hong Kong exchange. Hong Kong appears to...

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