Champ PE Plans IPO for Manassen Foods

MELBOURNE (Reuters) – Australian private equity firm CHAMP hopes to appoint advisers this week for a likely initial public offering of its Manassen Foods holding,” a source with direct knowledge of the process told Reuters on Tuesday.

Interviews were being conducted with five investment banks over Tuesday and Wednesday, the source said on condition of anonymity because the exercise is confidential.

“It is hoped a decision will be made this week,” on appointing lead managers for a float, the source said.

The offering is valued at more than A$400 million, according to an unsourced report Tuesday in the Australian Financial Review.

CHAMP executives were not available for comment. (Reporting by Victoria Thieberger, editing by James Regan)