13 November 2015

South Africa’s Brait Said to Prepare IPO of Consol

The deal could value glass bottle maker Consol at ~$1.2b, Reuters reports, citing people familiar.

* Goldman Sachs, BofA Merrill Lynch, South African banks RMB and Standard Bank are working on the listing;
* The listing is expected in the third quarter of next year, Reuters reports, citing one person familiar;
* Brait owns Consol;
* Goldman Sachs, BofA Merrill Lynch and Standard Bank declined to comment for Reuters’ story; Brait and RMB did not immediately respond to requests for comment. Source: Bloomberg