SPAIN - Codere to float on 25 October

During the summer, it was widely speculated that the group was in talks with a group of private equity firms and was likely to remain private. Another option was to raise extra capital via a partnership with institutional investors.

The flotation follows reports that the business needs extra muscle for further acquisitions in Europe and Latin America. However, the success of Codere's IPO may be at risk due to the company's debt - which has reportedly reached the EUR 700m mark in June.

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