KKR mulls 1.5 billion pounds Pets at Home float: Sky News
(Reuters) - Private equity firm KKR & Co LP (KKR.N) is considering a 1.5 billion pound ($2.4 billion) initial public offering of British pet products retailer Pets at Home, Sky News reported on Tuesday, citing insiders.
KKR has appointed Goldman Sachs, Bank of America Merrill Lynch and Nomura along with its in-house capital markets division to oversee the listing, which is expected as soon as the first quarter of next year, the broadcaster said on its website. (link.reuters.com/qek64v)
Stronger equity markets over the last 12 months have helped support a revival of European new listings after years of drought due to the financial crisis.
Pets at Home reported a 10 percent rise in earnings before interest, tax, depreciation and amortization to 100 million pounds in the year ended March 28 on turnover of nearly 600 million pounds.
With more than 350 stores across the UK, Pets at Home provides pet food, pet-related products and accessories, along with tips and advice on their health.
Both KKR and Pets at Home declined comment. ($1 = 0.6279 British pounds)
(Reporting by Abhirup Roy in Bangalore; Editing by David Holmes)