CVC Capital Partners paves the way for a new attempt to sell a domestic and general group (D&G), one of the largest British warranty suppliers.
Sky News has learned that the investment capital company listed in Amsterdam is starting to consider options to unload its majority participation in the company.
D&G provides coverage for electric products purchased from more than 100 brands, including Hoover, John Lewis, Samsung and Argos.
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CVC paid approximately 750 million pounds sterling to buy D&G of the Advent International buyout company 12 years ago, making it an unusually long-term investment according to standards of the investment capital industry.
It was a listed company on the stock market before being deprived in 2007.
The current owner sold a 30% participation in D&G at the ABU Dhabi Investment Authority in 2019 after organizing a complete auction process and envisaged to make the insurer of the devices to the London stock market.
Earlier this year, D&G was refined of 800 million pounds sterling, the product used to reimburse existing debts.
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CVC options may be to sell D&G to another vehicle controlled by the existing owner – known as a continuation vehicle – or find a merger partner for the company.
The sources indicate, however, that the preference of CVC would be to have its interest in third parties.
It was not clear on Tuesday how imminent a transaction could be.
CVC refused to comment.