UK - Permira pulls Hogg Robinson IPO
Hogg Robinson, the Permira-owned business travel company, has had its proposed IPO pulled with sources citing the current state of the market.
The float plan was announced in early September and was expected to value the company, which Permria acquired in 2000 for £400m, at £380m. Permira has already realised part of its investment from the original deal through a sale of the Benefits and Consultancy Services division of Hogg Robinson to Duke Street Capital in 2005.
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