The decision by CVC Capital Partners to list in Amsterdam instead of London is another blow to the City’s standing in international financial markets.
The European private equity firm and its backers are pressing ahead with an initial public offering set to value the business at up to €15 billion after previously postponing its plans because of upheaval in the Middle East.
The float, which will raise at least €1.25 billion, comes as a number of private equity companies, including Blackstone, KKR, Apollo Global Management and Bridgepoint, turn to public markets to raise funds from their investments.
CVC, one of the world’s most successful buyout groups, is an investor in Ekaterra, the owner of the PG Tips
ALAMY
CVC is one of the world’s most successful buyout groups, with assets under management of €186 billion. It was spun out of Citigroup in 1993 and its portfolio