Montagu cancels BSN Medical IPO
Reports suggest that Montagu Private Equity has cancelled its plans to list medical supplies company BSN Medical due to continuing difficulties with capital markets.
Originally, Montagu hired Morgan Stanley to advise on the IPO. At the time, BSN Medical's enterprise value was thought to be around €2bn.
This move highlights the recent checkered history of IPOs for portfolio companies. While Providence's Kabel Deutschland listed successfully and BC Partners' Brenntag appears to be on track for a listing, Travelport, New Look and Merlin all delayed their plans.
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