SAO PAULO (Reuters) – Brazilian restaurant chain Grupo Madero is planning to launch an initial public offer (IPO) in the second half of 2020, its founder Luiz Durski Junior told newspaper Folha de S.Paulo on Monday.
Investment banks have advised Durski to launch an IPO in the United States, as such a transaction could value Madero at up to 10 billion reais ($2.42 billion), he said.
A source with knowledge of the matter told Reuters that Grupo Madero has yet to hire investment banks to manage the offering.
Durski said Madero forecast a profit before interest, taxes, depreciation and amortization (EBITDA) of 280 million reais for 2019 and 380 million reais for 2020.
Earlier this year, private equity firm Carlyle Group LP (CG.O) acquired a minority stake in Grupo Madero, which operates 140 restaurants under three brands – Madero Steakhouse, Madero Container and Jeronimo.
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Home » Analysis & Comment » Brazilian restaurant chain Grupo Madero plans IPO: paper
Brazilian restaurant chain Grupo Madero plans IPO: paper
SAO PAULO (Reuters) – Brazilian restaurant chain Grupo Madero is planning to launch an initial public offer (IPO) in the second half of 2020, its founder Luiz Durski Junior told newspaper Folha de S.Paulo on Monday.
Investment banks have advised Durski to launch an IPO in the United States, as such a transaction could value Madero at up to 10 billion reais ($2.42 billion), he said.
A source with knowledge of the matter told Reuters that Grupo Madero has yet to hire investment banks to manage the offering.
Durski said Madero forecast a profit before interest, taxes, depreciation and amortization (EBITDA) of 280 million reais for 2019 and 380 million reais for 2020.
Earlier this year, private equity firm Carlyle Group LP (CG.O) acquired a minority stake in Grupo Madero, which operates 140 restaurants under three brands – Madero Steakhouse, Madero Container and Jeronimo.
Source: Read Full Article