CVC brings nine banks on board for planned bpost IPO


mailboxLondon-headquartered buyout house CVC Capital Partners has reportedly hired nine banks for its planned stake sale of Belgian postal service bpost through an IPO.

The firm hopes to sell more than half its stake in the business according to Reuters, which cited a source familiar with the company.

CVC could part with between 25 and 30 per cent of the business through the public listing this summer.

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.

Belgian newspapers De Tijd and L’Echo have both reported that CVC could raise between €550m and €900m from the flotation.

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