Horizon Lines wonÆt comment on IPO reports
Horizon Lines, a U.S. ocean shipping and technology company based in Charlotte, N.C., has refused to comment on published reports it is interviewing prospective underwriters for an upcoming initial public offering.
An IPO would allow Castle Harlan, a New York private equity firm that bought Horizon Lines in 2004 for $675 million, to extract its remaining equity in the company while realizing a 'phenomenal' return and retaining a stake in the business, noted Marine Money.
Castle Harlan has already taken approximately $100 million out of Horizon Lines through a zero coupon bond last month.