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EQT picks adviser for German fashion group IPO, say sources-Reuters

(Reuters) – Private equity group EQT has picked an adviser for the planned divestment of its German women’s fashion group CBR, two people familiar with the potential 1.2 billion euro ($1.34 billion) deal said.

Rothschild will help EQT with the sale and the selection of banks to act as so-called global coordinators of a potential IPO of the group, known for its Street One and Cecil brands, they said on Thursday.

EQT and Rothschild declined to comment.

Reuters reported earlier this month that EQT had started to prepare a listing or sale of CBR, which expects to post 2015 earnings before interest and tax (EBIT) of 90 million euros and may fetch an multiple of up to 13 times that.