(News Bulletin 247) – According to Bloomberg, the private equity company is preparing to launch its IPO in Amsterdam in the coming days, unfazed by the recent turmoil on the stock markets.
The Amsterdam Stock Exchange could soon host the largest fundraising of the year in Europe, which will probably amount to billions of euros.
According to information from Bloomberg, published on Wednesday, the private equity company CVC Capital Partners intends to formalize “in the coming days its plan to join the Amsterdam Stock Exchange despite a stock market climate recently shaken by geopolitical risk”.
CVC has not set a specific date but the announcement could come by next week, sources familiar with the matter also told Bloomberg.
According to Bloomberg, CVC could therefore enter the stock market in November. Which would corroborate the information from the Financial Times published in August, according to which the company had relaunched its plans to list on the Amsterdam Stock Exchange, “with an operation which could take place by the end of the year”.
“CVC could still decide to wait until the last moment if market conditions deteriorate,” some of the people interviewed also told Bloomberg. Contacted by the HVAC agency did not comment.
At the start of 2022, the private equity company had already wanted to go public but had to give up following market conditions made difficult by the outbreak of the war in Ukraine.
Pasta yes but Panzani
The IPO of CVC would therefore constitute a test for the markets after the recent fiasco of the IPO of sandal manufacturer Birkenstock in New York. Especially since it would be the largest IPO in Europe this year given the potential valuation of the company.
CVC was valued at 15 billion euros when the company agreed to sell a minority share of its capital to a division of asset manager Blue Owl in 2021, according to the Financial Times. The private equity firm was also behind the raising of the largest LBO (leveraged buy-out) fund in history, with 26 billion euros raised. last July, beating the previous record held since 2019 by its rival Blackstone.
The private equity company manages, according to its website, assets representing 160 billion euros with stakes in 120 very diverse unlisted companies.
CVC is particularly known to the general public for having bought the Panzani pasta brand from the Spanish group Ebro Foods last year. CVC also took stakes in the Swiss watch brand Breitling and acquired the cosmetics and makeup group Douglas in 2015.
And to expand its portfolio, Blommberg understands that CVC would have its sights set on Nexi, an Italian company which constitutes Worldline’s largest competitor and comparable in Europe.
According to the press agency, the CVC Capital Partners fund would be “in the first stages to consider a potential offer for the transalpine group, according to agency sources, who add that other investment companies are are also looking at Nexi.
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