US equity

US equity firm to buy stake of New Zealand Rugby

The potential transaction was for a stake of "up to 15 percent" of the three-times winners of the Rugby World Cup, the source said, asking not to be identified because the negotiations are private.

The talks with Silver Lake were first reported by Sky News, which said the deal for a 15 percent stake would value the team at about $2 billion. Sky said a deal had not been concluded, but could be announced as soon as this month.