Newsquest, the regional newspaper group, is set to float on the stock market next month. The company, which has six directors, will be valued at around £700m.
KKR, venture capitalists Cinven – the second largest shareholder – and the management team will all retain most of their shares, with around £50m-worth being sold. The company is known to have been considering the move for some time and it may even have been brought forward by what some analysts believe is a buoyant sector experiencing good trading conditions.
SBC Warburg Dillon Read will sponsor the issue and has been appointed joint global co-ordinator and broker together with Merrill Lynch International. HSBC Investment Banking and Salomon Brothers International will act as co-lead managers.
The move follows last week’s announcement that Newsquest had sold its Wessex newspaper division to Bristol United Press for £35m (subscribers see Newsquest Sells Titles).
Newsquest: 0171 420 2700
Media Jobs
Hello. We have downloaded cookies on your device. Some of these cookies are essential for the website to function. Others are non-essential and are used for analytics and advertising.
We need your consent for these types of cookies.
To withdraw your consent or change your cookie choices, please do this through your browser settings.
Otherwise, click OK to accept and continue.
