KSPG searches for standalone value
Rheinmetall stuck to its plan for an initial public offering of its automotive products business, KSPG, starting pre-marketing on Tuesday for a potential €400m-€500m deal. It is keeping flexibility over the deal-size — selling a maximum of 49% now and potentially less — as the IPO route will only work for the parent if it thinks it can create enough value, said bankers.
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