Orkla preps chemicals IPO in dual-track process
Orkla, the Norwegian conglomerate, is planning an Oslo IPO or outright sale of its Borregaard chemicals unit in the fourth quarter. The parent firm has been active in the ECM market selling non-core stakes recently.
Borregaard reported sales of Nkr4bn ($685m) in 2011, 6.5% of Orklas total group revenues. It made Ebita of Nkr531m, 13% of the group result, almost double the 2010 figure.
The parent firm, which this week applied to list the unit, has already received three private bids for the business,
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.