CVC picks Nine float advisers

first_img PRIVATE equity firm CVC has appointed Credit Suisse, Goldman Sachs and UBS to advise on the possible initial public offering (IPO) of television network Nine Entertainment, in a deal that could be worth $5bn (£3.2bn).If a float proceeds, it could be the biggest in Australia since the nearly A$10bn IPO of Telstra Corp in 1997 and would exceed last year’s $4bn float of rail-freight firm QR National.No final decision has been made on whether to float Nine, which owns the Nine Network, Australia’s largest magazine publisher ACP, and a 50 per cent stake in website, said a market source.“They are doing the hard yards so if and when they do decide to go, then the work has been done. It doesn’t mean a date has been set,” the source added.CVC and UBS declined to comment. Credit Suisse did not return a call for comment, while Goldman Sachs could not immediately be reached.Last month, executives from Nine Entertainment met with Australian fund managers to talk up the group’s earnings prospects, a move seen by investors as the first step towards an IPO.The climate for IPOs has improved recently following the successful float of QR National, which rose more than 10 per cent above its 22 November listing price and is currently 4.7 per cent higher.A float of Nine, which could come as early as April, would be the biggest private-equity float since TPG sold out of retailer Myer in late 2009. CVC picks Nine float advisers whatsapp KCS-content Tuesday 11 January 2011 7:23 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBDReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centercenter_img Share Tags: NULL More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 whatsapplast_img

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