‘CVC prefers billion-dollar IPO in Amsterdam over London’
CVC Capital Partners, Europe’s largest private equity group, has a multibillion-dollar IPO in Amsterdam and wants to avoid its home base in London.
That writes the British business newspaper Finacial Times on the basis of relevant sources. The listing of CVC – known for deals such as the purchase of the company from Unilever and the billions that its share in Formula 1 and the highest Spanish football competition La Liga – on the Amsterdam stock exchange must be no less than €25 billion for its next private equity fund.
The choice for Amsterdam over London, where the company has its roots, is a hard slap in the face for the British. Since it emerged from Citigroup’s private equity division in 1993, CVC has had a significant presence in London.
Brexit
The United Kingdom has struggled to attract stock exchange listings since leaving the European Union. It is working on reform to improve its position.
Last year, private equity group Bridgepoint raised £300 million in an IPO in London. If CVC’s plans go ahead, it would become the first major private equity firm to list on the stock market as a true multi-billion-dollar blockbuster. The group was valued at €15 billion last year.
Other than that, no final decisions have yet been taken about the IPO. According to the sources in the financial times, much depends on the developments in Ukraine and the impact of that war on the markets.