exclusive: bottle maker verallia set for possible 4 billion euros ipo - sources - glass water bottle companies
The acquisition group Apollo is preparing for the launch of French glass bottle maker Verallia later this year, which could become one of France's largest initial public offerings this year, people familiar with the matter said.
The private equity company, which works with Lazard as an IPO consultant, requires banks to contribute to the organization's listing efforts in the next few days, which may make Verallia worth more than 4 billion euros ($4. 5 billion), they said.
They added that Rothschild is providing advice for villaria.
Verallia dates back to wokrott glass products, which was founded in 1827. His clients include Paulista, champagne factory Dom Perignon and chocolate smearing manufacturer Natra. So-
It is expected that the global coordinator will be authorized to attend the holy-
The former Glass Bottle Company of goban, Apollo, acquired a controlling stake in the company in 2015.
The listing may take place in September or later, they said.
Apollo and Lazard declined to comment, and Rothschild did not immediately comment.
Few recent IPOs have taken place in France, and some deals, such as the logistics company Gefco's ipo, have been canceled due to unstable market conditions.
The parent company of Mediterranean tourism group is listed in Hong Kong.
Several of the other big French companies that may seek listing this year are state-owned --
Owned lottery company Francaise des Jeux, shares of the company may be sold under a law published last year.
In the first quarter, initial public offerings across Europe fell to their lowest level since the 2008 financial crisis due to uncertainty over Britain's exit from the EU and the US. S. -
China's trade dispute has left businesses reluctant to take risks.
Verallia is expected to announce Core revenue (EBITDA)
Sources said about 0. 55 billion euros this year, the value of the potential IPO may be 7 to 8 times.
Peers such as Vetropack, Owens-
There is a wide range of trade in Illinois or Vidrala. 7 to 9. 4 times EBITDA.
Apollo acquired a majority stake in Verallia in a 2015 deal that valued the business at £ 2.
95 billion euros.
It produced 16 billion glass bottles and jars last year and is the main supplier of bottles in the French champagne and cognac industry.
Company in 2018-
Nearly 10,000 employees
In the sales of 2, an adjusted EBITDA of 0. 544 billion euros was generated. 4 billion.
Earlier this month, Verallia announced early repayment of part of its debt on the grounds that strong cash flow led to a net debt fall to 1.
€ 7 billion or € 3.
2018 times the core revenue.