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Apollo-backed Taminco eyes $250m IPO

19 Feb 2013

OApollo Global Management-backed chemical company Taminco is looking to raise up to $250m in an IPO just over a year after the private equity firm bought into the business.

The buyout house currently owns a 95.5 per cent stake in the Belgian company according to an IPO filing with the US Securities and Exchange Commission, having reportedly paid CVC about €1.2bn in December 2011.

It said Apollo Investment Fund VII and other parallel funds had committed total capital of about $14.7bn to the company.

Taminco is the world’s largest dedicated producer of alkylamines – organic compounds produced through the reaction of an alcohol with ammonia – which are used in everyday products in the agriculture, personal and home care, animal nutrition and oil and gas end markets.

The company had previously attempted to raise up to €421.5m by listing in Brussels in January 2010, but scrapped the IPO citing choppy financial markets.

Apollo currently has holdings in other chemicals, mining and manufacturing businesses including Borden Chemical, Compass Minerals and Berry Plastics.

Underwriters for the latest IPO are listed as Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman Sachs, Nomura and UBS Investment Bank.

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