Australia: Costa family ponders IPO
The Australian media have reported the country's largest privately-owned fruit and vegetable company may be set to change hands, either through a share market listing or an outright sale.
Newspaper The Australian reported a roadshow was launched this week for a potential initial public offering (IPO) of Costa Group shares at a value of around AUD$400 million (US$323.5 million).
The story highlighted the group was 50% owned by its founders the Costa family, with the remainder held by U.S. private equity group Paine & Partners who bought its stake in 2011.
The newspaper said Costa Group appointed UBS and Goldman Sachs to investigate potential options such as a sale or an IPO with a value of up to AUD$1 billion (US$808,000).
Costa Group declined to comment on the issue.