Seeking Alpha

Report: Carlyle spurns bid for Applus; will take public instead

  • Carlyle Group (CG) will forego a bid for all of Spanish certification company Applus from BC Partners, and instead cash in part of its stake through a Madrid IPO, reports the FT. Together with online travel agent eDreams Odigeo, the two will be the first new listings in Spain since the ill-fated offering of Bankia three years ago.
  • The move shows how private equity bidders are struggling to keep up with public valuations constantly on the march higher. BC's bid reportedly valued Applus at about €2B, well less than the €2.3B valuation Carlyle expects to get in a listing (it purchased the company in 2007 for about €1.5B).
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: