PE firm CVC backs $1.3b bid for Chinese games developer Leyou

PE firm CVC backs $1.3b bid for Chinese games developer Leyou

Photographer:Nelson Ching/ Bloomberg

Private equity firm CVC Capital Partners is backing a bid by Chinese game firm iDreamSky Technology to take over its rival Leyou Technologies Holdings in a $1.3 billion deal, said four people with knowledge of the matter.