CNBC reports that AB Acquisition, the holding company that owns Albertsons and recently completed its purchase of Safeway, "has hired bankers to plan an initial public offering for later this year," one that could raise more than $500 million.
The timing is said to be fluid, with no final decisions having been made. Brian Dowling, a spokesman for AB Acquisition, tells CNBC that the company does not "comment on rumors."
The story notes that "AB Acquisition is controlled by an investor group led by Cerberus Capital Management, which also includes Kimco Realty, Klaff Realty, Lubert-Adler Partners and Schottenstein Stores."
The timing is said to be fluid, with no final decisions having been made. Brian Dowling, a spokesman for AB Acquisition, tells CNBC that the company does not "comment on rumors."
The story notes that "AB Acquisition is controlled by an investor group led by Cerberus Capital Management, which also includes Kimco Realty, Klaff Realty, Lubert-Adler Partners and Schottenstein Stores."
- KC's View:
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Why not? Albertsons-Safeway is the nation's second largest supermarket company. Going public would seem to be the natural next step.
Not necessarily the step that will make it more connected to Main Street and its customers, but certainly the step that will make the investor class happy, at least in the short term.
