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ConvergEx to abandon IPO in private equity deal with CVC Capital

The trading technology company had planned a $400m share flotation

ConvergEx Holdings yesterday agreed to sell itself to private equity firm CVC Capital Partners in a deal that will see the trading technology company abandon a planned $400m share flotation.

CVC would become the biggest owner of ConvergEx, acquiring the stake held by Chicago private equity house GTCR in an all cash deal expected to close in the autumn.

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