Deals
Starwood Capital’s Sternlicht Said to Prepare Share Sale
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Barry Sternlicht, chairman and chief executive officer of Starwood Capital Group LLC, has spoken to banks as he prepares to sell shares of the property-investment firm to investors, a person familiar with the matter said.
Starwood probably will sell a minority stake in an initial public offering, said the person, asking not to be named because talks are private. Sternlicht told Bloomberg Television in December 2012 he was considering a stake sale to raise cash and finance new businesses. In November, he said he may consider IPOs of some of Starwood’s holdings.