French IPOs on track but PE threat lurking

By Sam Kerr
12 Aug 2019

The IPOs of private equity-owned French glassware maker Verallia and of state-owned Française des Jeux (FDJ), the national lottery operator and sports betting company, are both attracting healthy interest in pre-marketing, but sources have expressed some concern that one deal could be taken off the table.

Verallia, which used to be owned by French multinational Saint-Gobain, is often deemed an exciting IPO candidate — its former owner launched a listing in 2011 before pulling it, blaming market conditions.

In 2015, private equity firm Apollo Global Management purchased a majority stake in an auction, which valued ...

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