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Italian pasta maker De Cecco picks advisers for potential listing-sources
December 6, 2017 / 6:05 PM / 9 days ago

Italian pasta maker De Cecco picks advisers for potential listing-sources

MILAN, Dec 6 (Reuters) - Italian pasta maker De Cecco has picked UniCredit and Credit Suisse to help it prepare for an initial public offering (IPO) of its shares, several sources close to the matter said on Wednesday.

The advisers will also evaluate alternative plans including the issuance of a bond, two of the sources said.

The group hopes to raise funds on the financial markets next year, but it needs first to appoint a new chief executive and streamline its organisation, the two sources said.

The company is wholly owned by the De Ceccos and run by two chief executives and a chairman picked among the different branches of the family.

De Cecco, which also sells olive oil, pasta sauce and rice, had considered a bourse listing more than 10 years ago, but the plan was put on hold when the global financial crisis erupted in 2008.

Its revenue rose 5.7 percent to 448 million euros ($528 million) last year, with core earnings up 18 percent to 48.8 million euros.

$1 = 0.8482 euros Reporting by Elisa Anzolin; writing by Francesca Landini; Editing by Elaine Hardcastle

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