CVC Asia Pacific, UBS eye Mantra Group IPO


hotel roomHong Kong-based private equity firm CVC Asia Pacific and UBS are preparing to float Australian hotel operator Mantra Group in April.

The company could be valued at around A$500m in the IPO, said Reuters, citing a source familiar with the deal.

CVC, which bought Mantra in 2008, tried to sell the business in 2012 and it was reported that it could be worth over A$600m.

UBS, which funded the buyout, acquired a 40 per cent stake via a debt for equity swap.

The firms are planning an analyst roadshow in two weeks to market the sale, aiming to float the company in mid-April, said the source.

Copyright © 2014 AltAssets