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.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
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
Can’t stop reading? Read more
Carlyle backs Mecachrome with €290m financing in aerospace credit push
Carlyle backs Mecachrome with €290m financing in aerospace credit push Carlyle has committed €290m...
Invesco teams up with LGT to push private equity and credit into wealth market
Invesco teams up with LGT to push private equity and credit into wealth market Invesco has...
Welsh Carson scores IPO exit as Lumexa Imaging raises $463m in US debut
Welsh Carson scores IPO exit as Lumexa Imaging raises $463m in US debut Welsh Carson Anderson...