26th May 2015 16:51
LONDON (Alliance News) - EQT, the Swedish private equity investor backed by the Wallenberg family, is planning to sell its remaining holding in SSP Group PLC, an operator of catering outlets in airports and railways stations, according to a stock exchange document on Tuesday.
According to the statement, funds managed by EQT IV Ltd intend to sell 95.0 million shares in SSP, equivalent to a 20% stake, in a move that would mark a full exit from the investment for EQT, which acquired the company in July 2006. The pricing of the sale is yet to be set.
SSP, whose outlets include in-house brands such as Whistlestop, as well as franchised brands such as Marks & Spencer and Starbucks, floated on the London Stock Exchange in July 2014, when it raised GBP467 million and selling shareholders raised GBP15 million.
The shares are being sold through an accelerated bookbuild conducted by Goldman Sachs International and Morgan Stanley & Co International PLC. Lazard & Co Ltd is EQT's financial adviser on the placing.
The company will receive no proceeds from the deal.
Shares in SSP closed down 0.1% at 299.97 pence on Tuesday, well ahead of the IPO price of 210p.
By Samuel Agini; [email protected]; @samuelagini
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