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PE-backed Spanish cable operator Grupo Corporativo ONO moves closer to IPO

21 Jan 2014

Private equity-backed Spanish cable company Grupo Corporativo ONO is one step closer to its anticipated IPO, according to Bloomberg.

Deutsche Bank and JPMorgan Chase & Co. are expected to be imminently named as the banks leading the listing, the report said.

The IPO could value Grupo Corporativo, the largest cable broadband service provider in Spain, at around €6.4bn, 8.5 times its 2012 EBITDA of €752m.

The company is backed by private equity buyout firms including Thomas H. Lee Partners, Providence Equity Partners and CCMP Capital.

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