Buyout giant CVC paves way for sale of warranty provider D&G

CVC Capital Partners is paving the mode for a caller effort to merchantability Domestic & General Group (D&G), 1 of Britain's biggest warranty providers.

Sky News has learnt that the Amsterdam-listed backstage equity steadfast is opening to see options for offloading its bulk involvement successful the company.

D&G provides screen for electrical products purchased from much than 100 brands, including Hoover, John Lewis, Samsung and Argos.

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CVC paid astir £750m to bargain D&G from chap buyout steadfast Advent International 12 years agone - making it an unusually semipermanent concern by the standards of the backstage equity industry.

It had been a publically listed institution earlier being taken backstage successful 2007.

The existent proprietor sold a 30% involvement successful D&G to the Abu Dhabi Investment Authority successful 2019 aft moving a afloat auction process and considering returning the appliances insurer to the London banal market.

Earlier this year, D&G underwent an £800m refinancing, with the proceeds utilized to wage disconnected existing debts.

Options for CVC could beryllium to merchantability D&G to different conveyance controlled by the existing proprietor - known arsenic a continuation conveyance - oregon to find a merger spouse for the company.

Sources accidental CVC's preference, however, would beryllium to dispose of its involvement to 3rd parties.

It was unclear connected Tuesday however imminent a transaction mightiness be.

CVC declined to comment.