Getty Images on Friday agreed to return to public markets through a merger with a blank-check firm backed by CC Capital and Neuberger Berman, in a deal valuing the supplier of stock photos and videos at about $4.8 billion including debt.
The deal with CC Neuberger Principal Holdings II PRPB.N will provide the company with proceeds of up to $1.2 billion, including funds from the special purpose acquisition company’s (SPAC) trust account and a $150 million private investment in public equity.
Getty was bought out by private equity firm Hellman & Friedman in 2008. In 2018, the Getty family took control of the company by acquiring Carlyle Group’s stake, valuing it below $3 billion.
Read more/Source: Nasdaq
