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Chemical Week Magazine :: Business & Finance :: United States/Americas
Taminco seeks to raise $300 million from IPO
2:38 PM MDT | April 15, 2013 | —Robert Westervelt
Apollo Management says it plans to sell 15.8 million shares, roughly a 24% stake, in amines producer Taminco as part of a planned initial public offering (IPO). The offering is being priced at $18–20/share and would raise $300 million if completed at the $19/share midpoint, according to an SEC filing. The anticipated close of the IPO was not disclosed. Apollo acquired Taminco from CVC Capital Partners in February 2012 for $1.4 billion. Taminco will use proceeds to redeem the $250-million principal amount of its PIK toggle notes and pay a $35-million fee in...
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