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KSL-backed ClubCorp eyes $100m IPO

15 Jul 2013

golf_ball_170sqPrivate equity-backed golf and country club operator ClubCorp Holdings is looking to raise $100m via an IPO.

The Dallas-based company has hired Goldman Sachs, Citigroup and Jefferies as underwriters for the IPO on the New York Stock Exchange, according to a document filed with US regulators.

ClubCorp, which was acquired by KSL Capital Partners in 2006, did not say how many shares it was selling and at what price. KSL will retain a majority voting power after the listing, according to the filing.

ClubCorp has more than 150 golf and country clubs, business clubs, sports clubs and alumni clubs in the US and two foreign countries.

The company booked a loss of $27.3m on revenues of $535.3m last year.

In December last year KSL bought a 24 per cent stake in the official ski resort of the 2010 Winter Olympics, Whistler Blackcomb.

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