June 14 Trinseo SA, a plastics maker backed by
Bain Capital, said on Friday that it has decided not to pursue
its proposed initial public offering of up to $400 million.
The company, formerly Styron Corp, had filed its intention
to go public in June 2011. ()
Deutsche Bank Securities, Goldman Sachs, Citigroup and
Barclays Capital were the lead underwriters to the offering.
Bain Capital bought Styron from Dow Chemical Co for
$1.63 billion in 2010, and Friday's decision comes at a time
when a number of private equity firms are looking to exit key
investments through IPOs.
Berwyn, Pennsylvania-based Trinseo, which was planning to
use net proceeds from the offering to repay debt, intended to
list its shares under the symbol "TSE".