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CVC could sell up to 30 per cent of bpost through summer IPO

26 Mar 2013

CCVC Capital Partners hopes to sell more than half its stake in Belgian postal service bpost through an IPO this summer, it is understood.

The firm could part with between 25 and 30 per cent of the business according to Reuters, which cited a source familiar with the company.

CVC owns 50 per cent minus one share in the company, the report said, with the Belgian state holding the rest.

The firm bought into the business in 2006 to take advantage of bpost’s position at the crossroads of the Dutch, German and French markets as well as its dominance in its domestic market.

European IPOs have seen a recovery in the first quarter of 2013 in northern areas such as Germany, the UK and the Nordics, although other parts of the continent are not expected to recover until later in the year according to a report by Ernst & Young.

Its Global IPO Update said a dramatic drop in worldwide public listings had failed to dent overall capital raised thanks to several massive public offerings in the first quarter of 2013.

The US has proved to be the backbone of the IPO market according to E&Y, which said the country’s stock exchanges had accounted for 37 per cent of capital raised in the quarter.

Asia on the other hand has saw dramatic drop in IPO performance, with exchanges raising just $5.1bn from 58 listings, down 38 per cent in capital terms and 40 per cent by deal volume compared to the same period last year

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