Deals
Airport Concession Operator OTG Said Exploring Sale, SPAC Deal
- Company is working with an adviser to solicit interest
- OTG was backed by Harvest Partners after delaying IPO in 2016
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OTG, an operator of restaurants and concessions at U.S. airports, is exploring options including a sale or going public through a special purpose acquisition company, according to people with knowledge of the matter.
The New York-based company, which filed to go public in 2016 before delaying plans and citing market conditions, is working with an adviser to solicit interest from potential suitors including private equity funds, so-called strategics and SPACs, the people said. Its targeted valuation couldn’t immediately be learned.