(Bloomberg) -- Concern Altadis SA, the Spanish maker of Gauloises cigarettes, may become the next target for buyout firm CVC Capital Partners Ltd. made it the world's worst performing credit-default swap today.
CVC, which yesterday scrapped a 10 billion-pound ($19.8 billion) bid for U.K. grocer J Sainsbury Plc, is discussing an offer for Altadis with buyout firms PAI Partners and Cinven Ltd., the Financial Times reported today. Credit-default swaps based on 10 million euros ($13 million) of Altadis debt jumped 14,000 euros to 70,000 euros, according to Deutsche Bank AG.
Read more at Bloomberg Bonds News
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