JPMorgan's One Equity Is Said to Favor $1.4 Billion IPO of Austria Metall

Thursday, Mar 10, 2011
点击:

Austria Metall GmbH, an Austrian aluminum maker owned by One Equity Partners LLC, is considering an initial public offering and listing on the Vienna Stock Exchange this year.


BNP Paribas SA and JPMorgan Chase & Co. (JPM) are acting as joint global coordinators and bookrunners, the Ranshofen, Austria-based company said in an e-mailed statement today. The IPO may begin as soon as April and value the company from 800 million euros ($1.1 billion) to 1 billion euros, according to four people with knowledge of the matter, who declined to be identified because the plan isn’t public.


One Equity, JPMorgan’s buyout arm, weighed offers from at least three potential buyers, the people said. The option of selling the company would remain open should the IPO process not go well, two of the people said.


Companies are preparing public offerings in the Austrian capital as the country’s benchmark ATX index has doubled from its near six-year low in March 2009. Constantia Industries AG is planning to sell shares in its Isovoltaic solar unit to the public this year, two people with knowledge of the discussions said in January. The IPOs would be the first on the Vienna exchange since construction company Strabag SE went public in October 2007.


Pre-Marketing


Pre-marketing for the IPO will start on March 14, Wolfgang Matejka, founder of Matejka & Partner Asset Management, said in a telephone interview from Vienna today.


Funds advised by One Equity took control of Austria Metall when it bought Constantia Packaging AG last year. Constantia Packaging owns 90 percent of the aluminum group, with a trust of Austria Metall’s employees holding the remainder. Constantia Packaging and Constantia Industries were split when their owner Herbert Turnauer died in 2000. His daughter inherited Constantia Packaging, while his son got Constantia Industries.


“We have prepared for this very thoroughly and will carefully examine the market environment during the coming weeks and months,” Austria Metall Chief Executive Officer Gerhard Falch said in the statement. “We seek new capital to further increase our production capacities and to strengthen our position in emerging markets.”


Leopold Poecksteiner, a spokesman for Austria Metall, declined to comment on timing or valuation when contacted today.


Norsk Hydro ASA (NHY) was among companies that weighed acquiring Austria Metall, the people said. Norsk Hydro Chief Executive Officer Svein Richard Brandtzaeg said on Feb. 16 that the Austrian aluminum maker was on his “radar.”


“We are, of course, following the business very closely in the industry, but for this specific issue we have no comment,” said Erik Brynhildsbakken, a spokesman for Norsk Hydro, over the phone from Oslo yesterday. (Bloomberg)

Recommended exhibitions

16TH ARAB INTERNATIONAL ALUMINIUM CONFERENCE
  ARABAL, which is being organized and hosted by Qatalum, is the premier trade event for the Middle East's aluminium i......
Aluminium 2012
  ALUMINIUM is the leading B2B platform in the world for the aluminium industry and its main applications. This is whe......
The 4th edition of Zak Aluminum Extrusions Expo
 Date

  14th - 16th December 2012

  Venue

  Pragati Maidan,

  New Delhi,India.

  Exhibition Timings

 ......
ALUMINIUM DUBAI 2011
Name:ALUMINIUM DUBAI 2011
Time:2011-5-9 to 2011-5-11
Place:Dubai International Convention & Exhibition Centre, Dubai, UAE......