CVCÂ is closing down its Australia operation due to big losses in the region and dwindling bank support, according to a Reuters report citing an unnamed source. CVC could not be reached for comment by press time.
The London-based firm has been struggling with its debt-ridden portfolio company, Nine Entertainment, and has been fending off creditors including Apollo Global Management and Oaktree Capital.
Report: CVC leaving Australia
CVC's struggle with the heavy debt of portfolio company Nine Entertainment has prompted the firm to leave Australia, according to reports.
