Funds advised by CVC Asia Pacific Limited (“CVC”), in partnership with Multi-Purpose Holdings Berhad (“MPHB”) and management, have successfully completed the buyout of Magnum Corporation Berhad (“Magnum”) in a public to private transaction valued at US$1.54 billion.

The Magnum acquisition is the largest M&A transaction completed in Malaysia this year and one of the largest private equity transactions in Asia ex-Japan to date. The transaction demonstrates CVC’s proprietary deal flow, its ability to execute large transactions in challenging market conditions, and its strong commitment to the region. Magnum is CVC’s third investment in South East Asia in the last 12 months.

Magnum is the largest 4 digit gaming operator in Malaysia. It was incorporated in 1968 and was the first private company to be granted a license to promote, operate and manage 4D numbers forecast betting in Malaysia. The Company is headquartered in Kuala Lumpur and operates 483 outlets throughout Malaysia. It reported revenues of US$923 million in 2007. With its strong brand name, sound risk management practices, and loyal customer base, Magnum is well positioned to continue its market leadership. CVC has extensive experience in the gaming sector globally, including investments in William Hill plc and IG Group, and intends to leverage its expertise and network to support Magnum’s growth and operations.

Commenting on the transaction, Dato’ Surin Upatkoon @ Dato’ K K Lau, Managing Director of MPHB, said: “Partnering with CVC in taking Magnum private will enable Magnum to tap into CVC’s strengths. Going forward, we foresee greater value creation in Magnum’s gaming operations, which will contribute positively to MPHB’s earnings.”

CVC set up a Singapore office in March 2007 to increase its focus on South East Asia. Sigit Prasetya, the Head of the Singapore Office, said: “Magnum is Malaysia’s preeminent 4D gaming company with a long history and an outstanding brand franchise. It represents our second investment in Malaysia and reflects our continued confidence in the country’s strong growth prospects. We look forward to working with MPHB and management to support Magnum’s next phase of development and leadership.”

CVC and MPHB were advised by CIMB Investment Bank Berhad, Newfields Advisors, Kadir, Andri & Partners, Clifford Chance, and PwC. Debt financing was led by CIMB Bank Berhad.