Cynicism over pricey Spotless float

The $2 billion float of catering services firm Spotless is expected to be a major test for the local market.

The $2 billion float of catering services firm Spotless is expected to be a major test for the local market as Australian fund managers voice cynicism about the company, which is being sold for almost double the price it was purchased for by its private equity owner almost two years ago.

Pacific Equity Partners stands to make about $1bn through the sale of Spotless.

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