CVC Gave Up Skylark Shares

CVC Capital Partners, a UK investment fund, is no longer the second biggest shareholder of Skylark Co., a major family restaurant chain operator, after CVC failed to pay back a loan owed to Chuo Mitsui Capital Co(CMC). In 2006 CVC invested roughly 60 billion yen, some of which was borrowed from CMC when a management buyout for the the family restaurant operator was launched. Nomura Principal Finance Co., a Nomura Holding investment unit, owns a 77.7% stake. CVC was said to hold a 20.9% stake. Skylark has posted losses for three consecutive years.