About a year after buying Citadel Communications, Forstmann Little & Co. is preparing an IPO. The New York Post states the company hopes to raise $500 million from the offering, slated for July. Goldman Sachs Group and Credit Suisse First Boston advised Citadel on its sale to Forstmann and are expected to lead the underwriting, states the Post.
Forstmann Little bought Citadel in June 2001 for $2 billion, putting in $1 billion of equity and $500 million of debt capital from its own fund plus $500 million from outside sources.
Citadel to Go Public Again?
Citadel to Go Public Again?
