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EQT eyes listing for Nordic hotel operator Scandic

30 Apr 2014

Swedish private equity firm EQT is planning an IPO for Nordic hotelier Scandic, valuing the company at over €1bn, Reuters reported.

Scandic is the largest hotel chain in the Nordic region with approximately 230 hotels in eight countries. It opened its first hotel in 1963 in Sweden and expanded into Norway and Denmark in 1973.

In 1990, the first hotels outside Scandinavia were opened and in 1996, Scandic was listed on the Stockholm Stock Exchange. It was acquired by EQT in 2007 from the Hilton Group whom had owned the company since 2001. In 2014 Scandic acquired Rica Hotels in Norway.

Scandic reported revenues of €913m in 2013, with EBITDA of 80m, the report said.

EQT-backed facility services company ISS listed in Denmark earlier this year, raising over €1bn.

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