German bathroom fittings maker Grohe in IPO preparations-sources

FRANKFURT Mon May 13, 2013 11:39am EDT

FRANKFURT May 13 (Reuters) - Investor TPG Capital and the private equity arm of Credit Suisse are speeding up preparations for a divestment of German bathroom fittings maker Grohe, two people familiar with the transaction said.

The transaction is run as a so-called dual track process that may result in an initial public offering (IPO) or sale to a competitor or other investor and may take place in the third or fourth quarter, the sources said.

Credit Suisse, Goldman Sachs and Morgan Stanley are set to be mandated shortly as organisers of the flotation or sale, they said, adding Deutsche Bank, and UBS have also secured roles in the potential deal.

Grohe, its owners and the banks declined to comment.

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