CVC pips EQT, set to buy Aavas for Rs 7k crore
CVC and EQT were the final contenders after Bain Capital decided to take a backseat. ET had been first to report on July 28 that EQT, CVC and Bain were the last in the fray, as private equity investors look to consolidate their position in the fast-growing sector. Kedaara and Partners together hold 26.47% of Aavas, with the former owning slightly more than the latter. Their exit will trigger an open offer for the acquisition of an additional 26% from public shareholders and result in a change in control.