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EQT to launch IPO of German fashion group CBR next month, say sources-Reuters

(Reuters) Private equity group EQT is likely to launch the initial public offering (IPO) of its German women’s fashion group CBR next month, two people familiar with the potential 1.2 billion euro ($1.35 billion) deal said.

The investor has picked Deutsche Bank and Goldman Sachs as so-called global coordinators for the IPO, the people said.

EQT and the banks declined to comment.

Rothschild is acting as IPO advisor for the group, known for its Street One and Cecil brands.

A so-called intention to float will likely be published in early June, with the market debut taking place four weeks later, the people said.

Reuters reported last 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.