STOCKHOLM Jan 9 Swedish private equity firm EQT
plans to list British food outlet operator SSP on the London
Stock Exchange later this year, three people familiar with the
An initial public offering of SSP would come on the back of
a strong 2013 for listings where private equity firms were a
driving force, taking advantage of rising stock markets to sell
Two of the people said SSP could be worth around 2 billion
pounds ($3.3 billion) on an enterprise value basis and that a
listing could potentially take place in June at the earliest.
EQT and SSP both declined to comment.
The process is at an early stage as EQT has not yet
appointed any financial advisors, the people said, adding that
the first step will be to pick an IPO advisor who will help
hiring banks as bookrunners ahead of a listing.
SSP employs some 30,000 people and runs restaurants, cafés
and bars in airports and railway stations, serving more than 1
million people per day in 30 countries. It owns brands such as
Caffè Ritazza and Whistlestop.
The firm, which EQT bought in 2006, had sales of 1.74
billion pounds in 2012 and earnings before interest, tax,
depreciation and amortisation (EBITDA) of 139 million pounds,
according to EQT's website.
EQT in December listed bath and toilet maker Sanitec
which has strongly outperformed the wider market after
Sweden's biggest IPO since 2006.
EQT is also preparing a listing of jointly owned Danish
outsourcing firm ISS this year, according to sources.