Rent-A-Center Halts London IPO for Private Deal, Extending Market Drought
What happened
Rent-A-Center has halted its planned £5 billion London listing to pursue a private transaction. CVC Capital Partners remains a major investor, while Silver Lake and GIC are reportedly in advanced talks to sell their stakes to CVC and other investors. This shift is expected to delay the company's Initial Public Offering by at least 18 months.
From cityam.com
Why it matters
The decision to delay the float is viewed as a blow to the UK’s public markets. The postponement is expected to extend the drought affecting the London Stock Exchange, as firms wait for listings.
From cityam.com
Who's involved
- Rent-A-CenterCompany halting its IPO to pursue a private transaction
- CVC Capital PartnersPrivate equity firm maintaining a major investment stake in Rent-A-Center
- London Stock ExchangeStock exchange whose listing conditions are being affected by the delay
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CVC Capital PartnersSpeculative
CVC Capital Partners could see its ownership and control of Rent-A-Center increase through the private deal.
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The entities involved
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Rent-A-Center
American furniture and electronics rent-to-own company
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CVC Capital Partners
Investment Advisory Firm
Nothing else this week.
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London Stock Exchange
stock exchange in the City of London