• Scandic float planned

The majority owner of Scandic Hotels, Swedish group EQT, is planning an IPO of the Scandinavian hotel group that could be worth more than EUR1bn. Banks have been invited to pitch for the project, reports Reuters.

EQT holds 78% of Scandic, having bought the company from Hilton in 2007. It has recently floated stakes in sanitary ware maker Sanitec, and outsourcing firm ISS, which have both outperformed the market.
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