Private equity giant Blackstone is preparing to take Spanish gambling company Cirsa public with an initial public offering (IPO) slated for the first half of 2025. According to a repor, citing unnamed market sources, Blackstone intends to raise between €700 million and €1 billion ($732 million to $1.1 billion) by offering 20% to 25% of Cirsa’s shares.
To lead the IPO, Blackstone has enlisted Barclays, Deutsche Bank, and Morgan Stanley as global coordinators.
Cirsa, a leading operator of casinos and betting shops across Spain and Latin America, was acquired by Blackstone in 2018 for an undisclosed amount.
In 2021, another Spanish publication, reported that Blackstone was exploring the possibility of an IPO that could value Cirsa at approximately $3.4 billion.
As of now, neither Blackstone nor its appointed banks have provided comment on the latest developments.
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