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Caravan maker Hymer mandates banks for stock market listing -sources

Published 14/08/2018, 09:09 pm
© Reuters.  Caravan maker Hymer mandates banks for stock market listing -sources
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FRANKFURT, Aug 14 (Reuters) - Family-owned Erwin Hymer Group has mandated banks for a potential 2019 stock market listing of the German mobile home manufacturer, though it continues talks with private equity groups over a potential buyout, people close to the matter said.

The company is working with Goldman Sachs (NYSE:GS) GS.N , Deutsche Bank DBKGn.DE and Citi C.N as so called global coordinators of a planned initial public offering in the Frankfurt, with Macquarie MQG.AX acting as so called IPO advisor, they added.

Hymer and the banks declined to comment or were not immediately available for comment.

Last month, people close to the matter said that buyout groups KPS and Centerbridge were expected to submit final bids by early September for the owner of the Hymer, Dethleffs and Buerstner recreational vehicle brands. is expected to post earnings before interest, tax, depreciation and amortisation (EBITDA) of more than 250 million euros ($285 million) this year and of roughly 300 million in 2019.

It may reap a valuation at 2.5-3 billion euros in a potential IPO, the sources have said.

U.S. peers Winnebago WGO.N and Thor THO.N trades at 6.6-8 times their EBITDA while French peer Trigano TRIA.PA trades at 9.6 times. ($1 = 0.8770 euros)

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