Verallia reported to set for IPO with 4 billion Euro

A report published on Reuters this week informs that Apollo group who made the buyout of Verallia from Blackrock back in 2015 is said to prepare the French glass bottle maker for a stock market listing later this year. This could become one of the largest French initial public offerings of the year, the report cites people close to the matter. The report further claims that the private equity firm, which is working with Lazard as its IPO advisor has asked banks to pitch in coming days for roles in organizing the flotation, which could value Verallia at more than 4 billion euros ($4.5 billion). Further information is added that Rothschild is advising Verallia..

The report further states that the Verallia counts world brands such as Dom Perignon (Champagne), Pernod Ricard and Nutella as mayor clients. Further developments are expected to probably happen by September or later, so the report states.
Apollo and Lazard declined to comment, while Rothschild had no immediate comment, has been added.

Verallia´s core earnings (0EBITDA) are expected to reach approx 550 million Euro for 2019 which results in a value of between 7 and 8 times that in a potential IPO, the article cites the sources.

It is furthermore specified that Apollo bought the majority of Verallia in a 2015 deal valuing the business at 2.95 billion euros. The capacity for 2018 was given with 16 billion glass bottles and jars. The company is the main supplier of bottles for France’s champagne and cognac industries. 2018 annual report states that the company - that employs almost 10,000 people - generated 544 million euros in adjusted EBITDA on sales of 2.4 billion.

Reporting by Arno Schuetze; Editing by David Holmes / Our Standards:The Thomson Reuters Trust Principles.

12.04.2019, Verallia

Il materiale informativo del sito è registrato ed appartiene all´azienda o ai terzi che lo hanno fornitoe tutti i diritti sono riservati. Qualsiasi utente che accede a tale materiale può farlo solo ad uso personale e ne è anche responsabile. Ridistribuzione o altro uso commerciale di tale materiale è espressamente proibito. Nel caso in cui il materiale sia stato ceduto da terzi, l´utente concorda di rispettare questi termini di utilizzo specificati. Glass Global non garantisce la veridicità o l´esattezza del contenuto di alcuna informazione o di siti web esterni menzionati nelle stesse.

Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.