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Bain was advised by Herbert Smith Freehills. Cyrus Capital, which was advised by Jones Day, said it had withdrawn from the bidding process.
June 26, 2020 at 01:55 PM
1 minute read
Correspondent, Sydney
Private equity giant Bain Capital will relaunch Virgin Australia after agreeing to buy Australia’s No. 2 airline on Friday.
Bain, which is advised by Herbert Smith Freehills, was announced as the winning bidder by administrator Deloitte after Cyrus Capital Partners dropped out and accused Deloitte of not engaging with its bid.
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