TPG-Led Group Weighs Sale of Stake in Jeweler APM Monaco, Sources Say
- Disposal of 30% stake could value asset at about $1.5 billion
- APM’s Hong Kong IPO plan has stalled since a filing in June
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A group of investors led by U.S. buyout firm TPG is considering a sale of its minority stake in jewelery maker APM Monaco, people familiar with the matter said, after volatile markets derailed plans for an initial public offering.
The investor group has started informally sounding out interest from prospective buyers, the people said, asking not to be identified as the information is private. A sale of the 30% stake held by TPG and its partners could give the company an enterprise value of about $1.5 billion, the people said.