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Advanstar investor mulls sale of stake

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Boston, Mass.-based Advanstar Inc., which publishes ®MDUL¯Travel Agent®MDNM¯ magazine and stages the MAGIC International trade shows, confirmed that private equity investor Hellman & Friedman is mulling a sale of its stake in the company. Advanstar has retained Morgan Stanley Dean Witter and Peter J. Solomon Co. to explore ``strategic alternatives,'' according to a press release. ``In response to recent unsolicited approaches from several interested parties, the Advanstar Board of Directors now feels it is the right time to explore the marketplace,'' Robert Krakoff, chairman-CEO of Advanstar, said in a statement. The company had filed for an initial public offering in 1999 but later last year announced it was postponing its IPO because of market conditions.
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