CVC Capital Partners, the private equity group, is now preparing to sell to the market twenty five to thirty percent of the Belgian Postal Service. According to a report from Reuters, bpost would be the first initial public offering made in Brussels.
According to a source who spoke on condition of anonymity, "Summer is the timing they are looking towards and the most they would be able to sell in the summer would be 30%."
Currently, CVC owns fifty percent minus one share in bpost while the Belgian government owns the remainder. Newspaper reports from Belgium, mainly De Tijd and L'Echo have said that CVC stands to eartn between Eur550 million and Eur900 million from the shareholder's float. It is projected that the full shareholdings would be sold off within 2013.
The sale would be the first IPO in Brussels since Movetis the biotech firm raised Eur85 million or US$109.5 million back in 2009.
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