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CVC’s Evonik Eyes Summer IPO

Buyout firm CVC Capital Partners said German chemicals maker Evonik, in which it holds a stake, could be taken public by the end of June, Reuters reported Monday.

(Reuters) – Buyout firm CVC said German chemicals maker Evonik in which it holds a stake could be taken public by the end of June.

“We are waiting for the best moment (for an initial public offering). So far we haven’t had the right market conditions,” Christian Wildmoser, a partner at CVC and a supervisory board member at Evonik, told journalists on Monday. (Reporting by Arno Schuetze and Philipp Halstrick; Writing by Ludwig Burger)