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UPDATE 1-Spain's Applus likely to seek market listing in April - source
March 21, 2014 / 4:06 PM / in 4 years

UPDATE 1-Spain's Applus likely to seek market listing in April - source

(Adds details, background, Carlyle no comment)

LONDON, March 21 (Reuters) - Spanish industrial testing and inspection firm Applus is likely to go ahead with an initial public offering of its shares in early April, a source said on Friday.

The Barcelona-based company was seeking a valuation of 2.2-2.4 billion euros ($3.3 billion), another source said.

Applus has profited from a growing environmental movement and calls for better health and safety standards in the energy industry following disasters such as BP’s Gulf of Mexico oil spill in 2010.

Last year it was reported that the firm, which was acquired by U.S. private equity firm Carlyle in 2007, had appointed Morgan Stanley and UBS to run the listing on the Madrid exchange.

Carlyle declined to comment on Friday. ($1 = 0.7255 Euros) (Reporting By Freya Berry; Editing by Erica Billingham)

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