German CBR group reportedly prepping for IPO

As reported Friday, German fashion group CBR, owner of brands Street One and Cecil brands, would be considering an initial public offering (IPO) or a sale for later this year.

As reported by Reuters, the apparel group has been earmarked for sale by its private equity owner EQT this year in a potential 1.2 billion euro, two people familiar with the matter said.

The sources quotes exclusively by Reuters said that the Swedish buyout group would have started a process of selecting banks to help it organise a stock market listing or sale as early as the second half of the year.

"An IPO (initial public offering) is the favoured option, but if someone were to offer a good price EQT would not turn them down," one of the sources said.

CBR is expected to post 2015 earnings before interest, tax, depreciation and amortisation (EBITDA) of roughly 100 million euros this year and earnings before interest and tax (EBIT) of 90 million euros.

EQT acquired CBR from buyout groups Apax and Cinven in 2007 for around y 1.5 billion euros.