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Oaktree-backed housebuilder Countryside eyes London IPO

11 Jul 2014

housePrivate equity-backed UK housebuilder Countryside is reportedly preparing for an IPO on the London Stock Exchange.

Countryside, which is backed by private equity firm Oaktree, has hired STJ Advisors to work on the IPO, which could take place in 2015, said the FT, citing a person familiar with the matter.

Chairman Ian Sutcliffe said STJ will advise on future options for Countryside.

In February this year Countryside merged with upmarket Millgate Developments. Later in 2014, the company secured a £200m debt facility with Lloyds, Santander and Barclays.

Countryside received a majority investment from Oaktree in February last year.

Another company backed by Oaktree, retail estate owner Store Capital, is also reportedly eyeing an IPO.

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