exclusive: south africa's brait eyes $1.2 billion float of bottle maker - sources - glass gym water bottle
Brait, South African investment company (BATJ. J)
The company is preparing to list glass bottle maker Consol, which could value the company at about $1.
2 billion, two people familiar with the matter said on Thursday.
Goldman Sachs (GS. N)
Bank of America Merrill Lynch (BAC. N)
Is working with the Bank of South Africa to list the RMB (RMHJ. J)
And Standard Bank (SBKJ. J)
Sources say who will sell the deal to domestic investors.
Floating in Johannesburg
One of the sources added that the head office business could appear in the third quarter of next year and warned that no deal was positive.
Goldman Sachs, Bank of America Merrill Lynch and Standard Bank declined to comment.
Brait and RMB did not immediately respond to requests for comment.
Consol is the leading glass packaging manufacturer in South Africa, producing all products from wine and beer bottles to mayonnaise cans, according to its website.
Earlier this year, Brait bought British clothing retailer New Look for $1.
2 billion of the deal, which has owned Consol since leading a consortium to remove the company in 2007.
Consol has core revenue (EBITDA)of around 1.
South African Rand (5 billion)$105. 81 million)
A source said it could yield about 12 times more, noting that continued weakness in South African rand = D3 could drive down valuations.
They added that although the unit could be sold, there were very few buyer lists for the asset.
Apollo, a private equity firm, June (APO. N)
Won the auction of Verallia, the glass bottle unit of Saint Gobain (SGOB. PA).
The deal valued the business on a seven-fold gain.
4 times EBITDA and 12. 8 times EBIT.
The listing of Consol will be a major transaction on the Johannesburg Stock Exchange, which has made six initial public offerings (IPOs)
Raised $305 this year.
According to Thomson Reuters, 7 million.
Brait, also listed in batj_p, Luxembourg.
Lu is controlled by South African billionaire cristós vesé.
Recently, the car has been buying crazy.
In April, the company spent $1 billion to acquire a controlling stake in Virgin Group, an entrepreneur Richard Branson's Virgin Group and a gym group owned by CVC [co-owned ]. CVC. UL].
Other assets include frozen food supermarkets in the UK, Iceland. ($1 = 14. 1760 rand)