French flooring company Tarkett to unveil IPO
PARIS Oct 4 (Reuters) - French floor maker Tarkett, which is 50 percent owned by U.S. private-equity firm KKR, has submitted a registration filing for an initial public offering (IPO) that will be unveiled on Friday, a source close to the company said.
The Paris-based group is jointly owned by KKR and the Deconinck family shareholders.
Under the listing, KKR will float part of its stake and the Deconincks will buy more shares to keep their ownership stake above 50 percent, the source said.
A listing on the Paris stock exchange could value Tarkett, which sells speciality flooring products, at as much as 2.5 billion euros ($3.41 billion) including debt, according to the Financial Times, which reported on the deal on Friday, citing a source close to the situation.
The company, which makes vinyl flooring and artificial lawns for sports venues, derives 90 percent of its sales from outside France and reported revenues of around 2.3 billion euros last year.