Constellium Talks To Banks For IPO

Target: Constellium

Price: Undetermined

Sponsor: Apollo Global Management

Apollo Global Management-backed company Constellium, which makes aluminum products for the aerospace and transportation industry, is starting to interview banks for an initial public offering, two sources familiar with the situation told sister news service Reuters.

The company, based in Paris, is 51 percent owned by Apollo, 39 percent owned by metals and mining giant Rio Tinto plc and 10 percent owned by the French investment fund FSI. Constellium and Rio Tinto could not be reached for comment. Apollo Global Management declined to comment.

The company was created after Rio Tinto acquired Canadian aluminum producer Alcan Inc. for $38 billion. It divested part of Alcan’s engineered products division in 2011 and the unit was later renamed Constellium.

The company generates more than €3.6 billion ($4.69 billion) in revenue annually and has more than 9,000 employees, according to its Web site. Its customers include Audi AG, BMW, Boeing Co., Bombardier Inc., Fiat SpA and Lockheed Martin Corp.

Olivia Oran and Greg Roumeliotis are correspondents for Reuters in New York.