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Freudenberg eyes Vibracoustic IPO decision by yr-end - CEO
April 5, 2017 / 9:03 AM / 8 months ago

Freudenberg eyes Vibracoustic IPO decision by yr-end - CEO

WEINHEIM, Germany, April 5 (Reuters) - Germany’s Freudenberg may revive plans to float its automotive vibration control technology unit Vibracoustic on the stock exchange, its chief executive said on Wednesday.

“We will make a decision on a flotation by the end of the year,” Mohsen Sohi told journalists at a news conference.

He added automotive supplier Freudenberg would remain an anchor investor in Vibracoustic after a possible initial public offering (IPO).

Privately held Freudenberg last year bought the 50 percent in Vibracoustic it did not yet own from joint venture partner Trelleborg in a deal valuing the unit at 1.8 billion euros ($1.9 billion), including debt.

Freudenberg and Trelleborg had at one point started preparations for an IPO of Vibracoustic but then put them on ice due to market volatility.

$1 = 0.9368 euros Reporting by Ilona Wissenbach; Writing by Maria Sheahan; Editing by Edward Taylor

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