NEW YORK, Feb 20 (Reuters)
Private equity firm Forstmann Little & Company has decided to put its sports and modeling talent agency IMG up for sale and is in the process of picking an investment bank to lead the effort, three people familiar with the matter said.
The decision to shop IMG, which represents top tennis player Novak Djokovic and supermodel Gisele Bundchen and owns the rights to numerous sports leagues, is being driven by the trustee that runs the estate of Teddy Forstmann – IMG’s former chairman and chief executive who died in 2011, the people said.