Cvc Capital Partners To Purchase Stake In Pro14

Private equity firm CVC has agreed a deal in principle to purchase a minority 27% stake in the Guinness PRO14, according to multiple reports.

The league, jointly owned by the Welsh, Scottish and Irish Rugby Unions, would see an investment of £120m as a result of the deal, which is yet to be formally ratified. Each of the unions would see a cash boost of around £35m, while Italian and South African rugby – who also have clubs competing in the league – would also benefit.

Celtic Rugby DAC, the body which runs the league, confirmed that the talks are at an advanced stage and that a merger and acquisition request had been made by CVC.

“Celtic Rugby DAC and its shareholders can confirm a request has been filed to the Irish Competition and Consumer Protection Commission for Merger and Acquisition clearance by CVC Capital Partners.

“The request has been made in relation to a potential transaction involving Celtic Rugby DAC and CVC Capital Partners. Both parties are involved in advanced discussions and until those talks have been finalised there will be no further comment.”

The league features four teams from Ireland and Wales with two teams each from Scotland, Italy and South Africa.