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Exclusive: Samsonite Packs Bags For Hong Kong Listing Saturday, 19th February 2011
According to Sky News, the owners of the luggage-maker Samsonite have appointed investment banks to lead a stock market listing that will raise hundreds of millions of pounds. CVC Capital Partners, the London-based private equity group, and Royal Bank of Scotland (RBS) have hired Goldman Sachs, HSBC and Morgan Stanley to arrange a flotation in Hong Kong that could value Samsonite at about £2bn. The share sale is likely to raise about £900m, with the listing scheduled to take place in the second half of the year. The successful banks, which will also include RBS as a bookrunner on the share offering, were told today about their roles on the listing. CVC owns 60 per cent of Samsonite, a stake it paid $175m to retain as part of a debt-for-equity swap in 2009 which saw RBS becoming a minority shareholder in the company. That followed the downturn in international travel which hit Samsonite's business hard. Read more on Sky news
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Posted in Uncategorized Tagged Accessories, CVC Capital Partners, flotation, luggage-maker, Retail news, Samsonite
