Beauty retailer Douglas Group has announced a planned public listing on the Frankfurt Stock Exchange.
The German retail giant hopes to raise €800m via the initial public offering (IPO), which it intends to complete in the first quarter.
In addition to the €800m, Douglas is targeting an extra €300m from existing shareholders, including majority shareholder CVC Capital Partners.
Proceeds will be used to reduce debt, with remaining loans refinanced at better terms.
Douglas added that CVC and the Kreke family behind the business will not give up shares in the IPO.
Following the listing, CVC will continue to hold an indirect majority interest in the group.
Douglas’ CEO Sander van der Laan commented: “Our IPO is the logical next step for us to leverage our full potential in the future as a publicly listed company.”
He added that the group is “ideally…
