KKR has hired investment bank Jefferies to help evaluate a potential sale of Australian Venue, an owner of pubs and other entertainment venues, the Australian Financial Review reported.
The US private-equity giant is keen to sound out potential buyers after two failed attempts at listing the company in Sydney, AFR said, citing sources it didn’t identify.
Management at the pub chain have been working on long-term forecasts that could help attract buyers, including a $1 billion-plus annual revenue target for 2025, according to the report.
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Australian Venue shelved a planned initial public offering in 2021 over concerns that the coronavirus pandemic could damage the pub operator’s business in a country then-prone to extensive lockdowns.
The firm runs about 175 pubs, bars and venues across Australia and New Zealand. The IPO would have raised as much as $240m.
Source: BNN Bloomnberg
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