RPT-Australia's Nine seeks to raise up to $1.1 bln in IPO - report
SYDNEY, July 31 (Reuters) - Australia's Nine Entertainment, owned by two U.S. hedge funds, is looking to raise up to A$1.2 billion ($1.1 billion) in an initial public offering before the end of the year, a newspaper reported on Wednesday.
The Australian newspaper quoted unidentified sources as saying the national television broadcaster hoped to raise between A$800 million and A$1.2 billion in a float on the Australian Stock Exchange that could take place in November or December.
Oaktree Capital and Apollo Global Management took a 95.5 percent stake in Nine in January under a $3.6 billion recapitalisation scheme to save the broadcaster from sliding into receivership and slash its debt load.
Private equity firm CVC Capital Partners retained just 1 percent, losing nearly all of its $A1.8 billion investment, the biggest loss on a single private-equity deal in Asia.
The Australian said that bankers had not yet been appointed, but the float was likely to be handled by investment banks UBS and Macquarie.
Nine declined to comment on the report. UBS and Macquarie could not immediately be reached for comment.
The prospective float would come around three years after CVC met with fund managers about a potential A$5 billion plus IPO.
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