December 19, 2018 / 9:57 AM / 6 months ago

CVC explores sale for Asian funeral group Nirvana - WSJ

Dec 19 (Reuters) - Private equity firm CVC Capital Partners is planning to sell Asia’s largest funeral services provider, Nirvana Asia Ltd, in a deal that could be worth $1.5 billion to $2 billion, the Wall Street Journal reported on Wednesday, citing sources.

CVC bought Kuala Lumpur, Malaysia-based Nirvana for $1.1 billion in 2016, betting on increased demand for luxury funerals in the region.

A deal will signal a quick exit for London-based CVC, though private-equity investments typically last about five years, according to the report

Nirvana provides burial plots, niches and tomb design and construction services in South-east Asian markets including Malaysia, Thailand, Singapore and Indonesia, according to its website.

CVC and Nirvana were not immediately available for comment. (Reporting by Bhanu Pratap in Bengaluru)

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