Contrary to reports in yesterday's Financial Times, DLG denied it was up for sale and says it is seeking a further cash injection to fund acquisitions, but would not be drawn on the amount it is looking to raise. It has appointed investment bank Rothschild to advise on possible options.
The company was acquired last year in a management buy-out backed by UK private equity provider Promethean, which owns 71 per cent of the business, with the rest of the company split between seven of the management team. A refinancing deal could result in Promethean exiting the business.
Richard Webster, group communications director at DLG, would only confirm that plans announced by DLG earlier this year to float the business on the stock market were now "highly unlikely at this stage."
"We want to take advantage of digital opportunities and expand the business, and achieve more liquidity," says Richard Webster, group communications director.
DLG recently acquired interactive data firm 43 for an undisclosed sum.
The company was acquired last year in a management buy-out backed by UK private equity provider Promethean, which owns 71 per cent of the business, with the rest of the company split between seven of the management team. A refinancing deal could result in Promethean exiting the business.
Richard Webster, group communications director at DLG, would only confirm that plans announced by DLG earlier this year to float the business on the stock market were now "highly unlikely at this stage."
"We want to take advantage of digital opportunities and expand the business, and achieve more liquidity," says Richard Webster, group communications director.
DLG recently acquired interactive data firm 43 for an undisclosed sum.
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