Private equity group CVC Capital Partners will sell at least 23.5 percent of its stake in Belgian postal operator bpost at between 12.5 and 15 euros per share, writes Reuters. CVC owns 50 percent minus one share in bpost, while the Belgian state holds the rest.
Reuters – Private equity group CVC Capital Partners will sell at least 23.5 percent of its stake in Belgian postal operator bpost at between 12.5 and 15 euros per share, it said in a newspaper advertisement published on Thursday.
The offer period runs from Thursday until June 19, it said, and values the postal operator at between 2.5 billion euros ($3.3 billion) and 3.0 billion.
CVC said it would sell at least 47 million shares, representing 23.5 percent of its stake, but this could be increased by a further 9 million if there was sufficient demand.
That puts the size of the flotation at between 587.5 million euros and 840 million, making it the biggest initial public offering (IPO) in Brussels since zinc smelter Nyrstar raised 1.74 billion euros in 2007.
CVC owns 50 percent minus one share in bpost, while the Belgian state holds the rest.
The global coordinators on the issue are JP Morgan, Nomura and BNP Paribas. International bookbuilders are JP Morgan, Nomura, Morgan Stanley and UBS, and the Belgian bookbuilders are BNP Paribas Fortis, KBC Securities and ING.
RBC Capital Markets, Belfius, Degroof and Petercam are also involved in the sale.
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