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Exclusive: Charterhouse in the lead to buy Skillsoft – sources

14
Mar
2014

By Soyoung Kim, Greg Roumeliotis and Nadia Damouni NEW YORK (Reuters) – European buyout firm Charterhouse Capital Partners LLP is nearing a deal to acquire education software provider Skillsoft Ltd for more than $2 billion, people familiar with the matter said on Thursday. The deal, which is expected to be announced in the coming days, will likely value Skillsoft at around $2.3 billion, including debt, one of the people said. This would mean that Skillsoft’s current private equity owners – Berkshire Partners LLC, Advent International Corp and Bain Capital LLC – stand to make around three times their money on the sale of the company, that person added. Charterhouse emerged as the lead contender for Skillsoft following an auction that also drew a binding bid from Providence Equity Partners LLC, the people said, asking not to be identified because the negotiations are private.

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