PRINT THIS PAGE Private equity owned Warner Music plans $5bn IPO23/09/2004. Source: AltAssets. 
 Warner Music, currently owned by Thomas H Lee Partners, Bain Capital and Providence Equity Partners, is considering a flotation valued at up to $5bn. The initial public offering could take place as early as next spring.
'Warner Music wants to be in a position where an IPO is a clear option early next year, possibly in April,' an insider told the Financial Times. But it has also been reported that a stock market listing could clear the way for renewed merger talks with Britain's EMI.
EMI has twice tried to merge with Warner Music. It abandoned a deal four years ago in the face of regulatory opposition and abandoned an offer last year after being out-bid by the private equity consortium.
Thomas H Lee, Bain Capital and Providence acquired Warner Music from Time Warner for nearly $2.6bn early this year. Time Warner is under pressure to pare its $24bn debt burden and has also sold its CD and DVD manufacturing business.
Copyright © 2004 AltAssets
|
