PRINT THIS PAGE CVC plans £1bn summer flotation for UK retailer Halfords30/04/2004. Source: AltAssets. 
 CVC Capital is reportedly planning a summer flotation for UK car parts and bicycle retailer Halfords that could raise up to £1bn.
CVC completed the £427m purchase of Halfords from Boots in August 2002. Although other options have been considered, an initial public offering is now the preferred exit route, according to a report by the Financial Times. A final decision, however, will not be made until next week.
In December, Halfords repaid £136m of debt and returned nearly half the original equity investment made by CVC. The refinancing left the group with a net debt of £270m compared with close to £400m at the time of the buy-out.
Copyright © 2004 AltAssets
|
