Clarin IPO to Repay Debt, Fund Acquisitions

Grupo Clarin’s planned IPO will raise $450m-$560m to retire debt at one of its subsidiaries and fund possible acquisitions of complimentary businesses, it said in a statement. The Argentine media company plans to sell 50m shares, a 17.5% stake, at ARS28-ARS35 October 19 in London and Buenos Aires. Goldman Sachs and Credit Suisse are the global coordinators and bookrunners, with JPMorgan as international lead manager and Merrill Lynch and Itaú as international co-managers.