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CVC looks to make full exit of BPost following successful summer IPO

11 Dec 2013

Parcel package postA consortium led by CVC Capital Partners is planning to sell off its remaining €600m stake in Belgian postal group BPost following the company’s successful IPO this summer.

BPost said the consortium planned to sell about 39 million shares through an accelerated bookbuild, raising the headline amount based on the share price at the latest close of the market.

The flotation of BPost in June saw the company listed at the top end of its proposed range, valuing it at about €2.9bn.

CVC’s consortium owned a 50 per cent stake in the company prior to the IPO, with the Belgian government holding the balance.

In April AltAssets reported that CVC had hired nine banks for the planned IPO.

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.

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