insto - Australian financial markets

Private equity house Pacific Equity Partners has reportedly appointed UBS, Goldman Sachs JBWere and the Commonwealth Bank as lead managers to advise on the possible A$1 billion float of the Hoyts cinema chain. Hoyts manages 450 screens in 49 complexes in Australia and NZ, and is the largest independent distributor in Australasia. “In the private equity business it’s something you’re always considering. It’s budget setting time, so we’re setting out planning for the year,” said Hoyts executive chairman David Kirk. “The options are a trade sale or IPO.