Carlyle Group buys 63% of CVC

“Carlyle Group, the world’s second- largest private-equity firm, may announce today the purchase of a majority stake in Brazilian tour operator CVC Brasil Operadora e Agencia de Viagens SA, a person familiar with the transaction said.

Carlyle is likely to buy bought a 60 percent stake in the company, according to the person, who asked to remain anonymous because he isn’t authorized to speak on the matter.

David Rubenstein, co-founder of Washington-based Carlyle, said last month the company planned two or three acquisitions in the “mid-$100 million” range in Brazil, part of a strategy to benefit from the size and growth potential of Latin America’s biggest economy. Private-equity companies such as Carlyle are seeking new investments after the global recession reduced bank lending and triggered a two-year drought.

Carlyle paid about 700 million reais ($404 million) for the stake, O Estado de S. Paulo reported today, citing unidentified people close to the talks

CVC, based in the suburbs of Sao Paulo, was founded by Guilherme Paulus and Carlos Vicente Cerchiari in 1972, according to its Web site. The company sells everything from international package tours to trips to resorts within Brazil. The purchase doesn’t include CVC’s Webjet airline business, according to the person.

A CVC official declined to comment. Carlyle spokesman Chris Ullman didn’t immediately respond to a phone call for comment.” – Business Week

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