DKV Mobility, the fleet services firm backed by CVC Capital Partners, is restarting work on a planned listing that could take place as soon as October, people familiar with the matter said.
(Bloomberg) — DKV Mobility, the fleet services firm backed by CVC Capital Partners, is restarting work on a planned listing that could take place as soon as October, people familiar with the matter said.
The German company is seeking a valuation of €3.5 billion ($3.8 billion) to €4 billion in the initial public offering that could take place in October or November, the people said, asking not to be identified discussing confidential information.
DKV is set to start holding analyst presentations from late August, according to the people.
Deliberations are ongoing, and no final decisions have been made on details of the potential offering, they said.
Representatives for DKV and CVC declined to comment.
DKV issues cards to commercial drivers across Europe that can be used to pay for everything from fuel to tolls.
It handled about €17 billion of transactions in 2022, according to DKV’s website. The company generated €621 million of revenue last year.
DKV is majority owned by its family shareholders.
CVC agreed to buy a 20% stake in the business in 2018 for an undisclosed amount.
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