FRANKFURT, Aug 26 (Reuters) - Recent financial market turbulence has dealt a serious setback to plans to list German specialist metals and ceramics company H.C. Starck this year, three people close to the situation said on Friday.
“A listing this year is becoming increasingly unlikely,” one of the people familiar with the process told Reuters. A sale of the business remains an alternative, a second person said.
Sources with knowledge of the matter had told Reuters in May that H.C. Starck, which is owned by private equity groups Advent and The Carlyle Group , was mulling an initial public offering for autumn.
Advent and Carlyle bought the maker of refractory metals and advanced ceramics for 1.2 billion euros ($1,7 billion) from Bayer in 2007.
Advent, Carlyle and H.C. Starck declined to comment.