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EQT-backed SSP plans to raise £500m via IPO

17 Jun 2014

sspEQT Partners-backed food concessions operator SSP is looking to raise £500m via an IPO in the next few weeks.

The company, which is expected to post earnings of £165m this year, could be valued at between £1.6bn and £2bn including debt, said Reuters.

Earlier this month SSP unveiled its interim results, which showed a 12.6 per cent increase in EBITDA to £54m and a 4.6 per cent climb in sales to £865.8m.

Earlier reports said that EQT was planning to exit part of its stake in the IPO.

The Swedish private equity firm bought SSP from Compass Group in April 2006.

In November it was reported that another company backed by EQT, bathroom ceramics business Sanitec, was looking to float in an IPO that could value it at up to SEK6.6bn ($1bn).

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