Gategroup pulls IPO on valuation pressure, Godewind resizes

The IPO of Gategroup, the Swiss airline catering company, has been cancelled after market conditions led to a 'gap in valuations' between the issuer and buyers.

  • By Sam Kerr
  • 26 Mar 2018

Credit Suisse and UBS were the global coordinators on the transaction and JP Morgan was a bookrunner. Berenberg, ING, Santander and UniCredit were co-lead managers.

The Swiss listing was designed to fund Gategroup’s acquisition of Servair, a Swiss competitor, from Air France-KLM.

It also included a secondary sale ...

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