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Private Equity Firm Acquires European Alternative Payment Provider Skrill

CVC Capital Partners acquired majority stake in Skrill Group Plc with a purchase valuing the alternative payment provider at €600 million ($800 million).

Skrill, the British eCommerce payment company formerly known as Moneybookers, offers an e-wallet that can be used in 200 countries and with 40 currencies. Skrill has over 36 million account holders and additionally owns the European prepaid payment method PaySafeCard Werkarten AG. Skrill processed €200 million in sales and €50 million in earnings for 2012.

Investcorp, another investment firm, originally purchased Skrill for €105 million in 2007. They will continue to retain a substantial minority position in the company after selling the majority stake to CVC.

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