July 10, 2014 / 9:15 PM / in 4 years

Countryside hires STJ to advise on possible IPO: FT

(Reuters) - Britain’s Countryside has appointed STJ Advisors to help the homebuilder consider future options, including a potential initial public offering, the Financial Times reported on Thursday, citing sources.

Discussions over the future of the company were at a preliminary start, with a possible listing in 2015, just one of the many options being considered, the paper quoted a person familiar with the matter as saying. (on.ft.com/VQ6fbV)

Executive Chairman Ian Sutcliffe said that the company had hired STJ to “advise on future options for the business”. A spokesman for Countryside declined to comment further on the matter.

Stakeholders of Countryside include private equity firm Oaktree Capital Management LP and the family of founder Alan Cherry.

The FT also quoted a separate source as saying that STJ, who also advised Saga and Card Factory on their London IPOs, had begun approaching banks to pitch for the role of bookrunner for Countryside’s probable debut.

While STJ could not immediately be reached for a comment outside of regular business hours in Britain, a spokesman for Oaktree declined to comment.

Reporting by Esha Vaish in Bangalore; Editing by Bernard Orr

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