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UPDATE 1-Airplane parts maker Aernnova hires banks for listing -sources

Published 2016-06-14, 12:18 p/m
© Reuters. UPDATE 1-Airplane parts maker Aernnova hires banks for listing -sources
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By Andrés González
MADRID, June 14 (Reuters) - Spanish plane parts maker
Aernnova has hired investment banks for a stock market listing
in the second half of the year to raise funds for expansion,
five sources with knowledge of the process said.
The company, owned 53 percent by management and 47 percent
by Swiss investment fund Springwater, supplies aeroplane
manufacturers like Airbus AIR.PA , Bombardier BBDb.TO and
Boeing (NYSE:BA) BA.N .
STJ Advisors will act as financial adviser for the listing
while Citi C.N , Morgan Stanley (NYSE:MS) MS.N and Santander SAN.MC
are global co-ordinators. Bank of America (NYSE:BAC) BAC.N , BBVA
BBVA.MC and Deutsche Bank DBKGn.DE are bookrunners, the
sources said.
Aernnova declined to comment. Santander, Morgan Stanley and
BBVA declined to comment while Citi, Bank of America and
Deutsche Bank were not immediately available for comment.
The company has bank debt of 318 million euros ($357
million), according to Thomson Reuters data. Earnings before
interest, tax, depreciation and amortisation were 110 million
euros last year, according to one of the sources.
($1 = 0.8919 euros)

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