Cabot delays IPO, talked with CPPIB, Apax about potential buy: Reuters

Cabot Credit Management’s planned 1 billion pound (US$1.3 billion) initial public offering has been delayed by the resignation from its board of the former boss of Provident Financial, Reuters reported. Cabot, which is Britain’s biggest debt collection business, had planned to announce its intention to float in London this week. The company is still planning to press ahead with its flotation this year, the source said. A second source told Reuters that Canada Pension Plan Investment Board and U.K. private equity firm Apax Partners had separately expressed interest in buying Cabot this year, although the talks did not develop. Apax and CPPIB declined to comment.

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