Direct Line ends private equity talks ahead of float
RBS is poised to reveal details of the flotation of Direct Line in a matter of weeks having ended talks with potential private equity investors, according to reports.
The Telegraph reported over the bank holiday weekend that discussions with firms such as Blackstone Group, Bain Capital and KKR had come to a conclusion with a decision having been taken to pursue an initial public offering on the London Stock Exchange.
The article noted that bidders had been putting together deals ranging from £3bn to £4bn but that banking sources now said a prospectus for Direct Line could be published in late September.
Direct Line recently reported an operating profit for
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