Bahrain’s Investcorp to sell Skrill for USD794 mill
Investcorp Bahrain announced the sale of its UK online psyments services company, Skrill. The sale was offered to CVC Capital Partners Ltd. The latter is one of Europe's biggest private equity firms, according to sources that told Bloomberg news agency.
The acquisition for Skrill by London based CVC Capital Partners was said to be at USD79 million. The report added that Investcorp is believed to be retaining a minority stake in the company after the deal is completed.
In a data shown by Thomson Reuters, Skrill was bought by Investcorp Technology Partners in March 2007. Investcorp Technology Partners is the fund's technology unit. Skrill was formerly known as Moneybookers and was acquired by Investcorp for USD139 million.
Skrill is currently available in 200 countries and territories. The online payment service firm offers 100 local payment options in 40 currencies. This was according to Investcorp's statement on its website. Investcorp expanded its portfolio through another acquisition of an Austrian firm, paysafecard.com.