SYDNEY Feb 28 Hong Kong private equity firm CVC
Asia Pacific Ltd and UBS AG plan to list Mantra Group,
Australia's second-largest hotel operator, in a public float
worth about A$500 million ($448 million) in April, a source
familiar with the deal told Reuters.
Mantra, which doesn't own properties but manages about
13,000 hotel rooms in the Peppers, BreakFree and Mantra chains
around Australia, New Zealand and Indonesia, was bought by CVC
CVC then handed a stake in the asset to UBS in a debt for
equity swap, giving UBS a 40 percent stake and CVC 60 percent.
Both vendors expect to continue to hold shares following the
listing, the source said.
The companies plan analyst roadshow in about two weeks to
market the sale with hopes for a listing date in the week before
Easter in mid-April.
($1 = 1.1169 Australian dollars)
(Reporting By Byron Kaye; Editing by Matt Driskill)