Infront to raise loans for dividend payment – report

The Infront Sports & Media agency is aiming to raise €155m ($211m) of loans to pay private equity owner Bridgepoint a dividend, according to the Reuters news agency.

Financial services companies Credit Suisse, Goldman Sachs and Nomura are spearheading the deal, which was shown to institutional investors at a meeting on Thursday, the report said.

Bridgepoint acquired Infront in 2011 from Jacobs Holding and shareholder Martin Steinmeyer. The deal was financed with equity and a vendor loan. Last year, €300m of loans was raised, with €160m being taken out as a dividend payment.