Playboy nears US$425 million deal to return to the stock market, sources say

Playboy Enterprises is nearing a deal to go public through a merger with Mountain Crest Acquisition Corp , which would value the owner of Playboy magazine at around US$425 million, including debt, people familiar with the matter said.

A tie-up with Mountain Crest would result in Playboy's return to the stock market, nine years after it went private in a US$207 million deal led by its late founder Hugh Hefner and private equity firm Rizvi Traverse Management.Mountain Crest, a special purpose acquisition company , could announce a deal with Playboy by the end of this month, the sources said on Wednesday, cautioning that talks could still collapse.

The sources requested anonymity as the discussions are private. A Playboy representative declined to comment. Mountain Crest Chief Executive Suying Liu had no comment when contacted by phone. Executives at Rizvi Traverse did not immediately respond to requests for comment.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Siemens sees market value of energy spin-off above US$20 billion: sourceSiemens expects Siemens Energy to reach a market value of significantly more than 17 billion euros (US$19.98 billion) when it floats on the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tech stocks reverse rally to lead markets rout in Asia, US, EuropeASIAN stock markets tumbled on Tuesday, taking their cue from a Monday night sell-off in Europe and the United States. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »