Jan 18 Oaktree Capital Group LLC is in
talks with banks, including Goldman Sachs, to line up an
initial public offering for Countrywide, the UK's largest estate
agency, the Financial Times reported.
The IPO, which could happen this year, would be one of the
most important listings in the UK real estate sector since the
collapse of the property market in 2008, the newspaper said.
Countrywide, which employs about 10,500 people in the United
Kingdom, was bought out in 2009 in a debt-for-equity swap by a
team led by Oaktree - now its largest shareholder.
Other buyers in the team included Apollo Global Management
LLC, Alchemy Special Opportunities and hedge fund
Polygon Management LP.
It was unclear how much of the business would be listed if
the IPO were to go ahead, the business newspaper said.
None of the companies could be immediately reached by
Reuters for comment.