January 25, 2019 / 3:03 PM / 7 months ago

German car interiors maker Novem explores sale or IPO - sources

FRANKFURT, Jan 25 (Reuters) - German car interiors maker Novem is exploring a sale or stock market flotation, as its family owner considers to lock in robust company valuations ahead of a possible sector downturn, people close to the matter said.

Dutch billionaire family Brenninkmeijer’s vehicle Bregal Unternehmerkapital has recently met with investment banks to discuss options for the company, which could be valued at 1.2-1.5 billion euros ($1.13-$1.70 billion), the sources said.

Bregal may hire an advisor in the coming weeks in order to potentially launch a deal in the second half of 2019, they said, adding that the family may also decide to keep the asset.

“They are studying options, but that does not mean that they will actually sell”, one of the people said.

$1 = 0.8815 euros Editing by Tassilo Hummel

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