Apollo, Oaktree-owned Nine Entertainment targets $658m IPO
Australian TV network Nine Entertainment - which is backed by US hedge funds Oaktree Capital Group and Apollo Global Management - is looking to raise up to A$697 million ($658 million) in its IPO set for December. The capital raised will be use to pay down debt and allow Oaktree to make a partial exit.
The listing comes a year after the beleaguered company narrowly avoided receivership when Oaktree and Apollo Global took control in debt for equity swap worth nearly $3 billion. The agreement wiped out...
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