UPDATE 1-French flooring company Tarkett files for stock market listing
PARIS Oct 4 (Reuters) - French flooring 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) of shares, the company said on Friday.
A listing on the Paris stock exchange could value Tarkett at as much as 2.5 billion euros ($3.4 billion) including debt, according to a report in the Financial Times citing an unnamed source close to the situation.
The Paris-based group, which is jointly owned by KKR and the Deconinck family shareholders, said the filing was a first step towards a Paris stock market listing and said the company would pursue its growth strategy abroad.
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, according to the filing, which said the pricing of the shares had yet to be determined.
The company will pay a one-off dividend of 130 million euros ($177.1 million) once the transaction is complete, according to the filing.
The company, which makes vinyl flooring and artificial lawns for sports venues, derives 90 percent of its sales from outside France and reported revenue of around 2.3 billion euros last year.
- Seven NATO allies to create new rapid reaction force-report
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis |
- U.S. authorities investigate suspected threat against Obama: reports
- Putin says Russia must strengthen its economic, military position in Arctic
- California passes 'yes-means-yes' campus sexual assault bill