Constantia Flexibles Said to Eye 500 Million-Euro IPORuth David and Alexander Weber
Constantia Flexibles Group GmbH, the Austrian packaging maker owned by One Equity Partners LLC, may raise about 500 million euros ($684 million) in a planned initial public offering, according to one person with knowledge of the sale.
A listing could come as early as December, two people said, asking not to be identified because the talks are private. The preferred exchange for the deal is Frankfurt, and stock would also trade in Vienna, they said. While the owners favor an IPO for Vienna-based Constantia Flexibles, they would also consider offers from industry buyers, they said.
JPMorgan Chase & Co., Goldman Sachs Group Inc. and Deutsche Bank AG are managing the IPO, three people familiar with the deal said in August. One Equity may sell 30 percent to 50 percent of the company in the transaction, Austrian daily newspaper Die Presse reported today.
A spokeswoman for One Equity declined to comment on the sale. A spokesman for the company didn’t immediately respond to a call seeking comment.
Constantia Flexibles’ earnings before interest, tax, depreciation and amortization, or Ebitda, rose 18 percent to 113 million euros in the first six months of this year as revenue expanded. It said the outlook for the rest of 2013 was “positive.”
IPOs on European exchanges have raised around $15 billion this year, according to data compiled by Bloomberg, more than twice the amount in the same period a year earlier.