BMI attracts private lenders as New Mountain bid emerges
- Shubham Saharan
- +Sasha Padbidri
- + 1 more
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Direct lenders are circling music rights group BMI as the company nears a potential sale to New Mountain Capital, according to multiple 9fin sources.
The potential deal, which is reportedly set to value the company at around $1.7bn, follows an auction process led by Goldman Sachs that started earlier in the summer. BMI also explored a sale last year, but halted the process before a deal was reached.