Elior to go public
French caterer Elior is planning to float on the Paris stock exchange on 8 March. It will offer the public 36% of its capital, amounting to between €319m and €367m (£198.5m and £228.2m).
Shares in the group will be offered at €10-€11.50 each (£6.22-£7.15), with the price fixed on 7 March, the day before trading in shares is due to begin.
The catering giant announced its plans on Tuesday. The news came as it reported its financial results for the year ended 30 September 1999. Net profits stood at €36m (£22.4m), compared with €19m (£11.8m) the previous year. Turnover increased from €1.39b (£864.4m) to €1.5b (£932.6m).
Elior, created nine years ago, supplies meals to public organisations ranging from hospitals and schools to offices, museums, shops and airports. It also holds contracts at 7,458 restaurants, including the seven restaurants at the Louvre and the Eiffel Tower's Jules Verne (Caterer, 9 December 1999, page 32).
