Perform Group names banks for £500m IPO

DIGITAL sports media specialist Perform Group has named investment banks Morgan Stanley and Credit Suisse to work on a planned £500m flotation for next year, according to weekend reports.

People familiar with the matter said last month that owner and billionaire Len Blavatnik was considering an initial public offering of Perform Group on the London Stock Exchange next year.

Perform Group builds and operates branded websites for sports clubs, federations and broadcasters – including the Premier League and Chelsea Football Club – as well as providing live sports footage and news to media groups and bookmakers such as William Hill and Ladbrokes.

Perform was formed in 2007 by the merger of Inform Group and Premium TV.

A spokesman for Perform Group’s parent, Access Industries, declined to comment on the report.

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