SkyPoker and South Beauty: guess the link

GELDY

So what can Sky Poker and my favourite Chinese restaurant chain have in common? You guessed it, both are majority owned by CVC who were clearly very busy last year. 

Please can the closure of SkyPokerTV be the only blemish that they encounter running both of these. Not looking likely though :-(

GELDY

CVC in HK Dispute With Chinese Restaurant Chain Owner

By NED LEVIN

Private equity firm CVC Capital Partners is in a dispute with the founder of a Chinese restaurant chain less than a year after it bought a majority stake in the company for US$300 million, according to a court document and a person familiar with the matter.

A Hong Kong court ordered last month the freezing of personal assets of Zhang Lan, founder of South Beauty Investment Co. Ltd., as part of arbitration proceedings between a CVC subsidiary, Ms. Zhang, and two other respondents, according to a court document dated March 18.

Justifying the freezing of assets, Judge Andrew Chung noted that “very substantial sums had been paid by [CVC] and it is still unknown where those sums now are.”