Altice Group contemplating 2014 IPO to bankroll global expansion

5 Dec 2013

Altice Group, the Luxembourg-based private equity company owned by Frenchman Patrick Drahi, is reportedly considering an initial public offering (IPO) in 2014, as it seeks to move away from debt financing to fuel its global expansion plans. According to Reuters, Altice is currently marketing a USD1.685 billion-equivalent high yield bond package to back its recent acquisitions in the Dominican Republic, but is keen to go public in the near future.

A high yield bond investor told Reuters: ‘They were asked about an IPO on the bondholder call. They said they were seriously looking at one and that it would come in 2014 if they go ahead. They’ve been relatively open that they want to go sooner rather than later. With EBITDA of nearly EUR900 million (USD1.22 billion), they could be a very big public company’.

The source added that a new holding company, Next LP, has been created to control both Altice and the stake in French cableco Numericable that it is currently in the process of buying; Next LP is the entity that would go public if Altice is listed, he added.

Luxembourg, Altice Europe (formerly Altice Group)