UK/IRELAND - Madison Dearborn, CVC and Cinven in partial exit from Smurfit Kappa through IPO
Madison Dearborn Partners, CVC and Cinven are to reduce their combined stake in cardboard box manufacturer Smurfit Kappa following a joint listing on the London and Dublin Stock Exchanges. The pricing of the shares in the grey market ahead of the official listing gives the company a market capitalisation of EUR 3.4bn. Following the IPO, the private equity backers will own a 40% stake with a lock-in period of 180 days.
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