One of the world’s richest families is preparing to list Getty Images through a “blank cheque” merger that will value the stock image supplier at $4.8bn (£3.6bn). 

The company is making a comeback to the public markets after 13 years by merging with CC Neuberger Principal Holdings II, a special purpose acquisition company (Spac), a type of shell company that floats on the market before finding a takeover target.

The investment vehicle backed by CC Capital and Neuberger Berman will hand the business proceeds of $1.2bn alongside a $150m investment in equity.

Funds from the deal will be used to pay down Getty Images’ debts, while Neuberger plans to provide a $300m backstop should investors redeem their shares ahead of a listing in New York.

The images firm was passed back into the hands of the Getty family three years ago when it bought a majority stake from the American buy-out fund Carlyle.

Craig Peters, chief executive, said Getty’s “committed long-term shareholders” were excited to pursue new opportunities facing the business.

The Gettys are among America’s top 100 richest families with an estimated fortune of  $5.4bn, according to a Forbes list from 2015. 

The family began amassing their wealth through dealings in the American oil business under George Getty and his son John Paul during the twentieth century.