Hilton prepares stock flotation
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Hilton Worldwide’s owners are hoping the hotel chain will net US$1.25 billion (GBP790m) in stocks when it goes public next year.
Hilton’s owners Blackstone is thought to be considering selling 15-20% of its stake onto the stock market in the initial float in the first six months of next year.
Deutsche Bank, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley are the lead underwriters for the initial public offering (IPO).
Blackstone privatised Hilton in 2007 for US$26.7 billion in what UK newspaper City AM calls “one of the largest leveraged buyouts of all time”.
Hotel shares are said to be in favour on the stock market this year with Marriott performing well.
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