CVC Capital Partners, the private equity giant with a stake in Six Nations Rugby, is gearing up to reignite plans for a stock market listing in Amsterdam, according to sources familiar with the matter.
Despite no firm decision being made yet, CVC is reportedly considering launching the IPO as soon as next month, with a potential valuation target surpassing $15 billion.
Last autumn, CVC had been preparing for a listing but halted its plans. Since then, the share prices of its publicly quoted competitors, including Blackstone, EQT, and KKR, have experienced significant growth, surging by up to 40%.
With a history spanning over 40 years, CVC is renowned in the buyout industry, having owned prominent businesses such as Formula One, Debenhams, and the AA. Its current portfolio includes diverse interests in rugby union, European football media rights, Lipton Teas, and Away Resorts.
Despite initial plans to go public in 2022, CVC postponed the move due to geopolitical tensions arising from Russia's invasion of Ukraine. The retirement of co-founder Donald Mackenzie and the subsequent leadership transition to Rob Lucas also played a role in the delay.
If CVC proceeds with the Amsterdam IPO, it is expected to offer only about 15% of the company to public investors, with the final decision contingent on market conditions. Investment banks Goldman Sachs and JP Morgan are reportedly involved in advising on the prospective listing.
CVC's potential return to the IPO arena reflects its strategic efforts to leverage market opportunities and maximize returns on its diverse investment portfolio.