SIG Combibloc Plans €1bn IPO To Cut Debt
Swiss packaging maker SIG Combibloc plans to sell €1 billion ($1.2 billion) worth of new shares "in coming months" to trim debt to levels normal for the industry, CEO Rolf Stangl said on Monday.
The company did not give a specific date for the IPO, which sources have told Reuters would value the company at about €5 billion.
Canadian private equity firm Onex, majority owner since 2015, and SIG management may also sell existing shares, although Onex will retain at least 50%, with a "market-typical lock-up" following the IPO.
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