Israel's Strauss Group, TPG eye U.S. IPO for coffee unit
Michael Chen
Senior Web Developer
Israeli food and beverage company Strauss Group and private equity firm TPG are examining an initial public offering of Strauss Coffee on a U.S. stock exchange, Strauss said on Monday.
Strauss and TPG have submitted a draft confidential prospectus to the U.S. Securities and Exchange Commission.
In preparation for a possible IPO, the shareholders have reached an agreement regulating the IPO execution process, the allocation of shares to be issued and the rights of the shareholders post IPO.
"There is no certainty that the IPO will indeed be finalised, and if it is, on which date," Strauss said in a statement.
Completion of the IPO is dependent on receipt of regulatory approvals from the SEC and the stock exchange in which Strauss Coffee shares will be listed.
Source: reuters.com/article/2015/03/23/strauss-group-tpg-capital-ipo-idUSL6N0WP0ML20150323
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