Europe’s Meininger Hotels Mulls Going Public: Report
Cox & Kings-owned Meininger, a hybrid hostel/hotel chain, is planning to go public, according to a report in the Times of London.
If successful, the mooted listing is understood to value the business at around $437 million (€400 million). The Times reports that investment bank Zeus Capital is targeting a floatation on AIM, a sub-market of the London Stock Exchange, in the next four to six weeks.
Mumbai-headquartered Cox and Kings is currently subject to insolvency proceedings following months of financial struggles. A number of its overseas businesses have closed or found new owners. Reports in India indicate that accountancy firm PwC is working on a forensic audit.
