CVC Capital Partners today announced the completion of the US$1.1 billion privatisation of Nirvana Asia Ltd. At the Company's Extraordinary General Meeting on 28 September, investors holding over 99% of the company's shares voted in favour of the offer, which was announced on 8 July.

This deal marks the first ever public-to-private transaction on the Hong Kong Stock Exchange completed by a private equity firm. Tan Sri David Kong, the Founder of Nirvana, and CVC are now the two largest shareholders in the Company. The Founder will continue in his role as CEO and lead the existing management team of Nirvana.

Nirvana is the largest integrated funeral and bereavement care provider in Asia, providing premium quality burial plots, niches and tomb design and construction services, as well as high quality and reliable funeral services. The Company has operations in six countries across Asia, including Malaysia, Singapore and Indonesia and employs over 700 staff across the region.

Hans Wang, Partner at CVC, said: "We are delighted that the deal received such strong support from Nirvana's shareholder base. Tan Sri Kong and his management team at Nirvana have created a leader in the Asian bereavement services space and we look forward to working together with them to continue that success."

Tan Sri David Kong, Founder and CEO of Nirvana, added: "As the founder and CEO, I have taken huge pride in Nirvana's successes over the past three decades. I am confident that with CVC as our partner in this chapter of our development, we will be able to leverage their operational expertise, financial resources and global network to further help Nirvana to thrive."