Another report. Interesting the bit about exiting its interest...

Another report. Interesting the bit about exiting its interest in Domain Aged Care with a A$43.5 million profit at the end...


DJ CVC, Australia's MFS In Talks On Stella Sale - Source31/01/2008 12:37PM AEST

SYDNEY (Dow Jones)--CVC Asia Pacific (CVC.YY) is in talks with troubled asset manager MFS Ltd. (MFS.AU) about buying its Stella division, a person familiar with the situation said Thursday.

MFS, which saw its market capitalization halved earlier in January, last week said it may sell its Stella travel unit within two weeks, allowing it to repay all its short-term debt.

The company said it has received proposals for Stella, which analysts estimate could fetch around A$2 billion, and was in talks with a preferred party, which it declined to name.

"Talks are continuing, progressing well," said a spokesman for MFS, but he added there isn't any intention of announcing a deal today.

The spokesman also said MFS has exited its interest in Domain Aged Care with a A$43.5 million profit.


-By Rebecca Thurlow, Dow Jones Newswires; 61-2-8235-2959; [email protected]