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Business deals

CVC buys Myanmar's largest telecom tower company for $700m

PE fund to acquire Irrawaddy Green Towers in country's second biggest deal

SINGAPORE (Reuters) -- CVC Capital Partners has agreed to buy Myanmar's largest telecom tower company in a deal that sources said was valued at about $700 million and which marks the global buyout firm's first foray into the Southeast Asian country.

The sale of privately-held Irrawaddy Green Towers, which has almost 4,000 towers across Myanmar, is the second-largest deal ever involving Myanmar assets. It is the first investment in Myanmar by CVC, one of the world's biggest private equity firms.

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