KKR Said to Hire JPMorgan, HSBC for Tarkett IPO in France

KKR & Co. (KKR) has named four banks including JPMorgan Chase & Co. (JPM) and HSBC Holdings Plc (HSBA) to manage an initial public offering of French floor maker Tarkett SA, according to people with knowledge of the matter.

Deutsche Bank AG and Bank of America Corp. have also been selected, the people said, asking not to be identified as the process isn’t public. The IPO could raise about 500 million euros ($651 million) and is planned for the second half of the year, the people said.

KKR, the private-equity firm run by Henry Kravis and George Roberts, sought to sell its 50 percent stake in Tarkett this year in a deal that would have valued the firm at as much as $3.8 billion, people familiar said March 12.

Tarkett, which manufactures and sells PVC, wood, laminate, sports and other specialty flooring products, increased sales 11 percent to 2.3 billion euros in 2012, helped by acquisitions and demand in Eastern Europe, Asia and North America. The company, based in the Paris suburb of Nanterre, has been jointly owned by KKR and the Deconinck family since 2007.

Spokesmen for KKR, Bank of America, JPMorgan, HSBC and Deutsche Bank declined to comment on any process.

To contact the reporters on this story: Ruth David in London at rdavid9@bloomberg.net; Aaron Kirchfeld in London at akirchfeld@bloomberg.net

To contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net; Simon Thiel at sthiel1@bloomberg.net

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