U.S. supermarket chain Albertsons Companies Inc is moving ahead with plans for an initial public offering in late September or early October that could value it as much as $24 billion, including debt, according to people familiar with the matter.
The determination of Albertsons' majority owner, private equity firm Cerberus Capital Management LP, to carry out the IPO despite volatility in the stock markets underscores its confidence that it can fetch a high valuation for Albertsons.
Cerberus is looking to capitalize on the strong performance of larger Albertsons rival Kroger Co (KR.N), the sources said. In marketing IPOs, companies often use peers as reference for pricing.
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