Private equity backers reap $350m Go Daddy dividend


US web hosting company Go Daddy is set to pay a $350m dividend to its private equity backers ahead of its upcoming IPO, PEhub reported.

Go Daddy has sealed a $1.1bn loan to refinance existing debt and fund a dividend to investors including KKR, Technology Crossover Ventures and Silver Lake.

The firms acquired a 65 per cent stake in the company in 2011 for $2.25bn including debt.

Founded in 1997 the internet domain registrar previously filed for an IPO in 2006, but canceled it due to a volatile marketplace.

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