Trafigura plans London float of Puma Energy unit - paper

LONDON Sun Dec 16, 2012 6:45pm IST

LONDON Dec 16 (Reuters) - Commodity trader Trafigura is working on plans for a listing on the London Stock Exchange of its Puma Energy subsidiary, The Sunday Times reported, citing Puma's chief executive.

The newspaper quoted Pierre Eladari, Puma's CEO, as saying the business could float in the new year with the proceeds used to fund Puma's expansion drive.

The Sunday Times said Eladari did not comment on the potential size of the offering but cited bankers as saying the float could value the company, which is 65 percent owned by Trafigura, at 3 billion pounds ($4.8 billion).

It said Puma, which owns petrol stations, ports and refineries in 34 countries in the developing world, is yet to hire banks to handle the offering.

Fast-tracking Projects

REUTERS SHOWCASE

Oil Prices

Oil Prices

Brent edges further above $61 as companies cut upstream investments.  Full Article 

GST Bill

GST Bill

Cabinet clears bill for nationwide goods and services tax.  Full Article 

Aviation Sector

Aviation Sector

Breakingviews: SpiceJet rescue is no fix for India aviation woes.  Full Article 

Global Economy

Global Economy

Fed confident on U.S. growth, opens door wider to rate hike.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Banking Sector

Banking Sector

Japan banks to bulk up India presence on improving ties   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage