Exclusive: Morgan Stanley, UBS hired to run Applus+ IPO - source

Exclusive: Morgan Stanley, UBS hired to run Applus+ IPO - source
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LONDON/MADRID Wed Dec 4, 2013 1:25pm EST

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A general view of the lobby outside of the Carlyle Group offices in Washington, May 3, 2012.


Credit: Reuters/Jonathan Ernst







LONDON/MADRID (Reuters) – The private equity owner of Applus+ has picked Morgan Stanley (MS.N) and UBS (UBSN.VX) to oversee a stock market listing of the Spanish industrial testing firm, a person familiar with the matter said.




Carlyle Group (CG.O), which bought Applus+ in 2007 in a deal valuing it at 1.48 billion euros ($ 2 billion), plans to float the company next year and expects to appoint more banks in the coming months to work as bookrunners, said the person.




The share sale, for which Rothschild ROT.UL is acting as an advisor, is most likely to take place in Madrid but a final decision on location will be made on Thursday, the person added.




Carlyle and Applus+ declined to comment.




($ 1 = 0.7377 euros)




(Reporting by Kylie MacLellan in London and Andrés González in Madrid, Editing by Alexander Smith and Elaine Hardcastle)





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