Global Blue gears up for €4bn float in Europe –

Global Blue, the tax refund payment firm, is paving the way for a €4bn (£3.6bn) flotation at the turn of the year, possibly in London.

No location has yet been chosen for the initial public offering, although it will be a European stock exchange and not in Asia or New York, The Telegraph has learnt. The float looks set to take place in early 2018. 

Goldman Sachs, JP Morgan and Morgan Stanley look likely to work on the float, although the selection process for advisers is still underway, the source said, rebuffing earlier reports Global Blue already had its advisers lined up. Meetings were taking place as recently as Monday. 

The Telegraph understands Global Blue started informal talks over the potential float a couple of months ago.  

Silver Lake, which controls Global Blue together with  Partners Group, typically holds investments for around five years. It made its investment in Global Blue in 2012. 

A Global Blue spokesperson declined to comment on the news, which was first reported by Sky News.  

Global Blue late last year signalled it had experienced a “turbulent year”, but in a statement last month suggested trading had picked back up. 

Global Blue mostly serves Russian, Middle Eastern and Chinese travellers, and said it had been helped by low cost travel to Europe. 

Global Blue gears up for €4bn float in Europe –