Global private equity and venture capital news and research

KKR out of IMG Worldwide bidding as buyout rivals all team with strategics

26 Nov 2013

sport_field_170sqUS private equity house KKR has dropped out of the race for sport, fashion and media talent agency IMG Worldwide amid other buyout bidders all teaming with companies in the sector.

Silver Lake has joined with William Morris Endeavor, CVC with Chemin Group and Carlyle with ICM Partners according to Reuters, which cited people familiar with the matter.

It said the business could sell for more than $2bn.

Forstmann Little hired Morgan Stanley and Evercore Partners in May to advise on the potential sale.

The firm reportedly rejected a $2bn buyout bid at that time from fellow private equity firm Colony Capital, while CVC Capital Partners was also reportedly mulling an offer.

Copyright © 2013 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016