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Charterhouse-backed Elior picks Paris bourse for summer IPO

4 Mar 2014

Elior cateringCharterhouse Capital Partners-backed French catering business Elior has reportedly picked the Paris stock market to hold an IPO of its stock by the summer.

The company hired Deutsche Bank, HSBC and JPMorgan Chase & Co last month to run the public listing according to Reuters, which said the company could be valued at up to €4bn.

The firm currently holds a 62.4 per cent stake in Elior, paying €2.5bn in 2006. The company reported revenues of €5bn in 2013.

Last year Elior was said to be headed for public markets after private equity bids for the company did not live up to expectations, though AXA Private Equity (now Ardian) was said to still be in the race.

AltAssets reported last February that buyout groups BC Partners and CVC Capital Partners had joined forces to make a €3.5bn bid, while UK private equity firm Cinven was also said to have made an offer. In April, reports suggested that Charterhouse was seeking alternative routes to exit.

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