Blackstone reportedly mulls IPO for Spanish casino operator Cirsa
Investing.com -- Blackstone (NYSE:BX) Inc. is contemplating an initial public offering (IPO) of its Spanish casino operator Cirsa Enterprises in the coming weeks, according to a Bloomberg report on Tuesday. The move comes as market volatility subsides, providing a favorable environment for companies to go public before the summer lull.
The potential IPO may generate less capital than initially anticipated due to a recent cash injection by its private equity owner to reduce debt. However, a report from Bloomberg in November suggested that Cirsa's IPO could raise up to €1 billion ($1.1 billion). This projection was made before the capital injection.
The decision to go public with Cirsa is part of Blackstone's effort to capitalize on the more stable market conditions. The exact timeline for the IPO has not been confirmed.
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