<article><a style="color: #000080;" href="http://www.dealstreetasia.com/tag/cvc-capital-partners/" target="_blank">CVC Capital Partners</a> has made a buyout offer for bereavement care provider <a style="color: #000080;" href="http://nirvana-asia-ltd.com/" target="_blank">Nirvana Asia</a><a style="color: #000080;" href="http://nirvana-asia-ltd.com/" target="_blank"> Ltd</a> in a $900 million deal, <a style="color: #000080;" href="http://www.wsj.com/articles/cvc-capital-partners-makes-buyout-offer-for-nirvana-asia-1467630341" target="_blank">Wall Street Journal reported</a>, citing sources.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/tag/cvc-capital-partners/" target="_blank">CVC Capital Partners</a> has made a buyout offer for bereavement care provider <a style="color: #000080;" href="http://nirvana-asia-ltd.com/" target="_blank">Nirvana Asia</a><a style="color: #000080;" href="http://nirvana-asia-ltd.com/" target="_blank"> Ltd</a> in a $900 million deal, <a style="color: #000080;" href="http://www.wsj.com/articles/cvc-capital-partners-makes-buyout-offer-for-nirvana-asia-1467630341" target="_blank">Wall Street Journal reported</a>, citing sources.
The Hong Kong-listed business is Asia’s largest funeral-services provider by revenue, with operations largely in Malaysia and Singapore. In December 2014, the Kuala Lumpur-based company listed on the Hong Kong Stock Exchange at HK$3.00, raising an estimated $250 million.
Last week, Nirvana had announced on the stock exchange a halt in its shares trading pending the disclosure of information regarding a takeover or merger. The shares were last traded at HK$2.45 before the trading halt. 
The buyout offer will be at a premium to that valuation and could be announced as early as the coming Tuesday, according to WSJ’s source. Both private equity firm CVC and Nirvana declined to comment.
Nirvana’s biggest revenue stream, almost 40 per cent, comes from niches, which families use to store funeral urns. Malaysia remains the firm&#8217;s primary market, contributing three-quarters of its revenue.
Founded in 1990, Nirvana also it sells burial plots and develops cemeteries, catered to Taoists and Buddhists.
The company has plans to expand in China, but has been struggling to do so due to the restrictions on the ownership of burial plots.
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CVC Capital Partners has made a buyout offer for bereavement care provider Nirvana Asia Ltd in a $900 million deal.

CVC Capital makes $900m buyout offer for Malaysia-based Nirvana Asia

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CVC Capital makes $900m buyout offer for Malaysia-based Nirvana Asia

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