IPO may value German fashion group CBR at €1.4bn

CBR Fashion Group, a German womenswear company owned by Swedish buyout firm EQT Partners, is preparing an initial public offering that could value it at about €1.4 billion, people with knowledge of the matter said.

The IPO may raise as much as €500 million, including €200 million from new shares, they said, asking not to be identified as the details are not public. The potential valuation includes capital raised from primary shares.

CBR plans to sell shares in Frankfurt, and the size of the secondary sale is yet to be determined, according to terms of the deal seen by Bloomberg.

The company, which owns brands such as Cecil and Street One, reported revenue of about €609 million for 2014, and adjusted earnings before interest, taxes and amortisation of about €105 million. – (Bloomberg)