Gala Coral Group planning IPO?

Rumours of Gala Coral Group’s supposed preparations to float on the stock market have resurfaced with the Financial Times reporting a planned flotation date in the fourth quarter of 2015.

According to the publication, Gala Coral will gauge market conditions following May 2015’s UK General Election before forging ahead with plans.

Financial Times reports Goldman Sachs and Morgan are informally advising the Group with regard to a potential IPO that would value the company at around GBP 2 Billion.

The company, owned by a cluster of private equity firms and hedge funds, including Apollo Global Management, Cerberus Capital Management, Anchorage Capital Partners and Park Square Capital, was said to have been considering an IPO back in September 2013 as it launched a strategic review of its business that involved the potential sale of its Coral betting shops and Gala bingo halls .

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