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People & Business :: Companies

Owners May Revive Evonik IPO by Mid-Year

6:34 AM MDT | March 14, 2012 | Ian Young

The delayed initial public offering (IPO) of shares in Evonik Industries could take place by the end of June 2012 because market conditions have improved, Christian Wildmoser, a partner at private equity firm CVC Capital Partners told journalists earlier this week. RAG Foundation (Essen, Germany) owns 74.99% of Evonik and CVC owns 25.01%. The IPO is expected to raise more than €1 billion and it is thought likely to value the whole of Evonik at more than €10 billion. CVC plans to sell one Evonik share for every two that RAG Foundation sells. RAG...

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