14th Jan 2016 06:50
LONDON (Alliance News) - Ascential, the owner of the Cannes Lions advertising festival, is understood to have hired the chairman of property portal Rightmove PLC to spearhead a GBP1.0 billion listing in London, Sky News reported.
Scott Forbes, the chairman of Rightmove, it due to be announced as the group's new chairman on Thursday, alongside plans for the group to raise GBP300.0 million via a London listing.
The media group is currently owned by Apax Partners and Guardian Media Group and also owns Drapers, the fashion industry trade magazine.
http://news.sky.com/story/1622190/cannes-lions-owner-picks-chair-for-1bn-float
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Rightmove