Forstmann Little & Co, a private equity firm based in New York, has begun a strategic evaluation of alternative courses of action that may be taken in connection with IMG Worldwide, the sports, college, entertainment and media business owned by the firm.
During this process, the full range of alternatives, including a possible sale of IMG, will be considered.
Evercore and Morgan Stanley have been engaged to serve as financial advisors during the strategic review process.
No decision has been made regarding a specific course of action for IMG. A definitive timetable has not been set and there can be no assurance that this process will result in a sale of IMG.
Neither Forstmann Little nor IMG will make any further comment regarding the strategic review until the process is complete or until further disclosure becomes appropriate.
